Dorian LPG Correlations

LPG Stock

USD 25.21 0.49 1.91%

The current 90-days correlation between Dorian LPG and Euronav NV is -0.03 (i.e., Good diversification). The correlation of Dorian LPG 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.

Dorian LPG Correlation With Market

Very weak diversification

The correlation between Dorian LPG and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dorian LPG and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Dorian Stock

0.66	FLNG	FLEX LNG Earnings Call Next Week	Pair Corr
0.85	FRO	Frontline Earnings Call Next Week	Pair Corr
0.85	GEL	Genesis Energy LP	Pair Corr
0.84	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.86	TNK	Teekay Tankers	Pair Corr
0.83	IMPP	Imperial Petroleum	Pair Corr
0.83	INSW	International Seaways	Pair Corr

Moving against Dorian Stock

0.9	DTM	DT Midstream	Pair Corr
0.88	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.85	OKE	ONEOK Inc	Pair Corr
0.84	EE	Excelerate Energy	Pair Corr
0.84	ENLC	EnLink Midstream LLC	Pair Corr
0.82	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.78	IMPPP	Imperial Petroleum	Pair Corr
0.77	ENB	Enbridge	Pair Corr
0.77	GLP	Global Partners LP	Pair Corr
0.72	VNOM	Viper Energy Ut	Pair Corr
0.71	LNG	Cheniere Energy	Pair Corr
0.68	EPD	Enterprise Products	Pair Corr
0.67	CQP	Cheniere Energy Partners	Pair Corr
0.65	DLNG	Dynagas LNG Partners Earnings Call Next Week	Pair Corr
0.59	GLOP-PB	GasLog Partners LP	Pair Corr
0.55	GLOP-PC	GasLog Partners LP	Pair Corr
0.51	GLOP-PA	GasLog Partners LP	Pair Corr
0.5	PBA	Pembina Pipeline Corp	Pair Corr
0.46	PBT	Permian Basin Royalty	Pair Corr
0.44	AM	Antero Midstream Partners	Pair Corr
0.91	GLP-PB	Global Partners LP	Pair Corr
0.89	WMB	Williams Companies	Pair Corr
0.89	TRGP	Targa Resources	Pair Corr
0.88	KNTK	Kinetik Holdings	Pair Corr
0.86	TRP	TC Energy Corp	Pair Corr
0.86	DLNG-PB	Dynagas LNG Partners Earnings Call Next Week	Pair Corr
0.81	MPLX	MPLX LP	Pair Corr
0.79	DLNG-PA	Dynagas LNG Partners Earnings Call Next Week	Pair Corr
0.76	SEAL-PB	Seapeak LLC	Pair Corr

Related Correlations Analysis

	EURN	DHT	STNG	TNK	TRMD	GLNG	LNG	FRO	INSW
EURN		0.14	-0.54	-0.4	-0.74	0.77	0.65	-0.38	-0.34	EURN
DHT	0.14		0.62	0.74	0.39	0.43	-0.19	0.79	0.77	DHT
STNG	-0.54	0.62		0.97	0.93	-0.15	-0.74	0.93	0.95	STNG
TNK	-0.4	0.74	0.97		0.86	0.03	-0.7	0.93	0.99	TNK
TRMD	-0.74	0.39	0.93	0.86		-0.44	-0.75	0.83	0.84	TRMD
GLNG	0.77	0.43	-0.15	0.03	-0.44		0.26	-0.05	0.06	GLNG
LNG	0.65	-0.19	-0.74	-0.7	-0.75	0.26		-0.5	-0.65	LNG
FRO	-0.38	0.79	0.93	0.93	0.83	-0.05	-0.5		0.93	FRO
INSW	-0.34	0.77	0.95	0.99	0.84	0.06	-0.65	0.93		INSW
	EURN	DHT	STNG	TNK	TRMD	GLNG	LNG	FRO	INSW

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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

INSW	+ 0.99	TNK
TNK	+ 0.97	STNG
INSW	+ 0.95	STNG
TRMD	+ 0.93	STNG
FRO	+ 0.93	STNG
FRO	+ 0.93	TNK

High negative correlations

LNG	- 0.75	TRMD
LNG	- 0.74	STNG
TRMD	- 0.74	EURN
LNG	- 0.7	TNK
INSW	- 0.65	LNG
STNG	- 0.54	EURN

Risk-Adjusted Indicators

There is a big difference between Dorian Stock performing well and Dorian LPG 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 Dorian LPG'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
EURN	1.46	0.48	0.24	1.18	1.24	(1.69)	3.66	(3.10)	10.85
DHT	1.70	(0.10)	0.00	(0.03)	0.00	0.00	3.89	(3.69)	9.53
STNG	1.39	(0.43)	0.00	(0.77)	0.00	0.00	1.97	(3.14)	7.72
TNK	1.50	(0.47)	0.00	(0.42)	0.00	0.00	2.41	(3.77)	11.22
TRMD	1.59	(0.69)	0.00	(0.69)	0.00	0.00	2.54	(4.09)	8.63
GLNG	1.57	0.05	0.05	0.12	1.73	(1.79)	4.08	(2.88)	9.79
LNG	1.04	0.25	0.20	0.77	0.72	(1.26)	2.46	(1.28)	7.20
FRO	1.97	(0.27)	0.00	(0.35)	0.00	0.00	4.15	(5.32)	12.09
INSW	1.45	(0.31)	0.00	(0.22)	0.00	0.00	2.77	(3.31)	9.18

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