Genesis Energy Correlations

GEL Stock

USD 17.54 0.45 2.63%

The current 90-days correlation between Genesis Energy LP and Teekay Tankers is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Genesis Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Genesis Energy LP moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Genesis Energy Correlation With Market

Poor diversification

The correlation between Genesis Energy LP and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Genesis Energy LP and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Genesis Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Genesis Energy LP. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Moving together with Genesis Stock

0.78	AM	Antero Midstream Partners Earnings Call Tomorrow	Pair Corr
0.92	EE	Excelerate Energy	Pair Corr
0.9	ET	Energy Transfer LP Earnings Call Today	Pair Corr
0.83	SRR	Source Rock Royalties	Pair Corr
0.89	AQ30	ALTAGAS LTD PRFG	Pair Corr
0.79	G2O	Golar LNG Limited	Pair Corr
0.74	KEY	Keyera Corp	Pair Corr
0.61	TPZ	Topaz Energy Corp Earnings Call This Week	Pair Corr
0.78	P5P	Pembina Pipeline Corp	Pair Corr
0.68	TK41	Tsakos Energy Navigation	Pair Corr
0.7	K2Y	Keyera Corp	Pair Corr
0.92	CQP	Cheniere Energy Partners Earnings Call This Week	Pair Corr
0.82	OCW	Euronav NV	Pair Corr
0.69	DHT	DHT Holdings	Pair Corr
0.89	DKL	Delek Logistics Partners	Pair Corr
0.79	DTM	DT Midstream Earnings Call This Week	Pair Corr
0.83	EPD	Enterprise Products	Pair Corr
0.88	ETP	Energy Transfer Partners	Pair Corr
0.8	FRO	Frontline	Pair Corr
0.87	GLP	Global Partners LP	Pair Corr
0.87	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.89	KYN	Kayne Anderson MLP	Pair Corr
0.86	LPG	Dorian LPG	Pair Corr
0.86	NAT	Nordic American Tankers Earnings Call This Week	Pair Corr
0.8	NGL	NGL Energy Partners	Pair Corr
0.85	OKE	ONEOK Inc	Pair Corr
0.91	PAA	Plains All American	Pair Corr
0.85	PBA	Pembina Pipeline Corp Earnings Call This Week	Pair Corr
0.78	SFL	SFL Corporation	Pair Corr

Related Correlations Analysis

	TNK	DHT	TRMD	TALO	SDRL	CSAN	DKL	BKV	CLMT	NOG
TNK		0.97	0.95	0.53	0.61	0.24	0.78	0.44	0.68	0.62	TNK
DHT	0.97		0.95	0.64	0.65	0.29	0.83	0.53	0.76	0.72	DHT
TRMD	0.95	0.95		0.6	0.68	0.24	0.84	0.49	0.72	0.73	TRMD
TALO	0.53	0.64	0.6		0.76	0.2	0.82	0.79	0.84	0.91	TALO
SDRL	0.61	0.65	0.68	0.76		-0.19	0.9	0.7	0.88	0.78	SDRL
CSAN	0.24	0.29	0.24	0.2	-0.19		0.04	0.32	0.02	0.33	CSAN
DKL	0.78	0.83	0.84	0.82	0.9	0.04		0.7	0.93	0.84	DKL
BKV	0.44	0.53	0.49	0.79	0.7	0.32	0.7		0.75	0.86	BKV
CLMT	0.68	0.76	0.72	0.84	0.88	0.02	0.93	0.75		0.83	CLMT
NOG	0.62	0.72	0.73	0.91	0.78	0.33	0.84	0.86	0.83		NOG
	TNK	DHT	TRMD	TALO	SDRL	CSAN	DKL	BKV	CLMT	NOG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DHT	+ 0.97	TNK
TRMD	+ 0.95	TNK
TRMD	+ 0.95	DHT
CLMT	+ 0.93	DKL
NOG	+ 0.91	TALO
DKL	+ 0.9	SDRL

High negative correlations

CSAN

- 0.19

SDRL

Risk-Adjusted Indicators

There is a big difference between Genesis Stock performing well and Genesis Energy Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Genesis Energy's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TNK	1.48	0.23	0.09	(4.10)	1.58	(1.51)	3.49	(2.68)	12.96
DHT	1.37	0.28	0.13	(1.76)	1.29	(1.54)	3.18	(2.59)	12.28
TRMD	1.46	0.18	0.09	0.52	1.30	(1.75)	3.68	(2.24)	10.37
TALO	2.19	0.35	0.12	0.63	2.43	(2.46)	4.69	(4.06)	11.90
SDRL	2.23	0.58	0.22	0.58	2.20	(2.49)	5.03	(3.96)	14.86
CSAN	2.56	(0.10)	0.00	(0.02)	0.00	0.00	6.01	(5.37)	18.30
DKL	1.31	0.30	0.17	0.64	1.38	(1.47)	2.73	(2.18)	10.04
BKV	2.25	0.25	0.09	0.39	2.52	(2.41)	5.14	(4.64)	12.30
CLMT	1.46	0.60	0.33	1.69	1.15	(1.71)	3.71	(2.44)	7.83
NOG	2.16	0.26	0.09	0.51	2.57	(2.22)	4.91	(4.28)	11.89

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