Kinder Morgan Correlations

KMI Stock

USD 32.32 0.63 1.99%

The current 90-days correlation between Kinder Morgan and Energy Transfer LP is 0.63 (i.e., Poor diversification). The correlation of Kinder Morgan is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Kinder Morgan Correlation With Market

Poor diversification

The correlation between Kinder Morgan and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinder Morgan and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Kinder Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kinder Morgan. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more detail on how to invest in Kinder Stock please use our How to Invest in Kinder Morgan guide.

Moving together with Kinder Stock

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

Related Correlations Analysis

	ET	TRP	E	EPD	MPLX	MPC	EOG	PSX	EQNR	SLB
ET		0.86	0.91	0.86	0.73	0.32	0.78	0.81	0.94	0.88	ET
TRP	0.86		0.96	0.93	0.68	0.24	0.75	0.74	0.9	0.77	TRP
E	0.91	0.96		0.91	0.7	0.29	0.8	0.81	0.96	0.84	E
EPD	0.86	0.93	0.91		0.77	0.44	0.82	0.85	0.85	0.75	EPD
MPLX	0.73	0.68	0.7	0.77		0.19	0.68	0.62	0.64	0.68	MPLX
MPC	0.32	0.24	0.29	0.44	0.19		0.67	0.65	0.32	0.01	MPC
EOG	0.78	0.75	0.8	0.82	0.68	0.67		0.87	0.78	0.56	EOG
PSX	0.81	0.74	0.81	0.85	0.62	0.65	0.87		0.81	0.73	PSX
EQNR	0.94	0.9	0.96	0.85	0.64	0.32	0.78	0.81		0.86	EQNR
SLB	0.88	0.77	0.84	0.75	0.68	0.01	0.56	0.73	0.86		SLB
	ET	TRP	E	EPD	MPLX	MPC	EOG	PSX	EQNR	SLB

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Risk-Adjusted Indicators

There is a big difference between Kinder Stock performing well and Kinder Morgan 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 Kinder Morgan'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
ET	0.82	0.21	0.16	(1.59)	0.62	(0.98)	2.22	(1.36)	4.31
TRP	0.94	0.28	0.22	6.71	0.67	(1.07)	2.24	(1.30)	4.69
E	1.06	0.22	0.12	0.77	1.16	(1.14)	2.04	(2.26)	6.47
EPD	0.68	0.28	0.28	4.76	0.35	(0.84)	1.72	(1.33)	5.11
MPLX	0.84	0.17	0.09	(7.14)	0.86	(0.86)	1.75	(1.75)	4.74
MPC	1.51	0.03	0.01	0.11	1.88	(1.69)	3.66	(3.66)	11.12
EOG	1.43	0.20	0.09	2.00	1.42	(1.55)	2.91	(2.34)	6.52
PSX	1.49	0.20	0.09	0.34	1.64	(1.72)	4.11	(2.83)	10.45
EQNR	1.55	0.25	0.11	1.87	1.59	(1.75)	3.34	(3.39)	7.91
SLB	1.74	0.44	0.26	0.43	1.46	(2.24)	4.46	(3.31)	12.54

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Kinder Morgan Correlations

Kinder Morgan Correlation With Market

Poor diversification

Moving together with Kinder Stock

Related Correlations Analysis

Risk-Adjusted Indicators

COMMON DESTINATIONS

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