MPLX LP Correlations

MPLX Stock

USD 55.54 1.04 1.84%

The current 90-days correlation between MPLX LP and TC Energy Corp is 0.55 (i.e., Very weak diversification). The correlation of MPLX LP 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. If the correlation is 0, the equities are not correlated; they are entirely random.

MPLX LP Correlation With Market

Significant diversification

The correlation between MPLX LP and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MPLX LP and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MPLX Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MPLX 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 industry.

For more information on how to buy MPLX Stock please use our How to Invest in MPLX LP guide.

Moving together with MPLX Stock

0.8	DLNG	Dynagas LNG Partners	Pair Corr
0.74	KEY	Keyera Corp	Pair Corr
0.94	TPZ	Topaz Energy Corp	Pair Corr
0.83	CQP	Cheniere Energy Partners	Pair Corr
0.72	DKL	Delek Logistics Partners	Pair Corr
0.88	DTM	DT Midstream	Pair Corr
0.96	EPD	Enterprise Products	Pair Corr
0.63	ETP	Energy Transfer Partners	Pair Corr
0.79	KYN	Kayne Anderson MLP	Pair Corr
0.87	NGL	NGL Energy Partners	Pair Corr
0.88	OKE	ONEOK Inc	Pair Corr
0.83	PAA	Plains All American	Pair Corr
0.87	SFL	SFL Corporation	Pair Corr
0.9	SMC	Summit Midstream	Pair Corr
0.68	TGS	Transportadora de Gas	Pair Corr
0.82	TRP	TC Energy Corp	Pair Corr

Moving against MPLX Stock

0.68	LNG	Cheniere Energy	Pair Corr
0.38	LPG	Dorian LPG	Pair Corr
0.64	000669	PetroChina Jinhong Energy	Pair Corr
0.34	GLNG	Golar LNG Limited	Pair Corr

Related Correlations Analysis

	TRP	ET	LNG	OKE	SU	KMI	SLB	EPD	IMO	E
TRP		0.29	-0.62	0.83	0.8	0.76	0.52	0.83	0.22	0.73	TRP
ET	0.29		0.03	0.34	0.65	0.38	0.58	0.41	0.64	0.46	ET
LNG	-0.62	0.03		-0.63	-0.56	-0.17	-0.62	-0.63	0.22	-0.6	LNG
OKE	0.83	0.34	-0.63		0.77	0.68	0.6	0.84	0.16	0.69	OKE
SU	0.8	0.65	-0.56	0.77		0.58	0.8	0.87	0.52	0.82	SU
KMI	0.76	0.38	-0.17	0.68	0.58		0.35	0.52	0.16	0.37	KMI
SLB	0.52	0.58	-0.62	0.6	0.8	0.35		0.58	0.14	0.68	SLB
EPD	0.83	0.41	-0.63	0.84	0.87	0.52	0.58		0.47	0.8	EPD
IMO	0.22	0.64	0.22	0.16	0.52	0.16	0.14	0.47		0.42	IMO
E	0.73	0.46	-0.6	0.69	0.82	0.37	0.68	0.8	0.42		E
	TRP	ET	LNG	OKE	SU	KMI	SLB	EPD	IMO	E

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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

EPD	+ 0.87	SU
EPD	+ 0.84	OKE
OKE	+ 0.83	TRP
EPD	+ 0.83	TRP
E	+ 0.82	SU
SU	+ 0.8	TRP

High negative correlations

EPD	- 0.63	LNG
OKE	- 0.63	LNG
SLB	- 0.62	LNG
LNG	- 0.62	TRP
E	- 0.6	LNG
SU	- 0.56	LNG

Risk-Adjusted Indicators

There is a big difference between MPLX Stock performing well and MPLX LP 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 MPLX LP'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
TRP	0.81	0.07	0.00	0.36	0.86	(0.87)	2.09	(1.48)	5.93
ET	0.83	0.11	0.01	(1.26)	0.77	(0.99)	2.22	(1.35)	3.98
LNG	0.90	(0.13)	0.00	1.74	0.00	0.00	1.75	(2.25)	4.68
OKE	1.16	0.12	0.02	9.40	1.46	(1.20)	2.43	(2.46)	6.82
SU	1.06	0.36	0.24	6.67	0.74	(1.20)	2.77	(1.62)	7.59
KMI	0.98	0.06	(0.03)	(0.68)	1.43	(1.01)	1.92	(1.73)	6.34
SLB	1.61	0.48	0.30	0.58	1.24	(2.02)	4.26	(2.89)	11.84
EPD	0.58	0.11	0.03	0.82	0.64	(0.63)	1.50	(1.34)	3.38
IMO	1.40	0.16	0.05	0.97	1.67	(1.39)	2.96	(2.64)	8.47
E	0.93	0.19	0.09	0.91	1.09	(0.99)	2.04	(2.26)	6.47

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