NGL Energy Correlations

NGL-PB Preferred Stock

USD 23.45 0.04 0.17%

The correlation of NGL Energy 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.

NGL Energy Correlation With Market

Average diversification

The correlation between NGL Energy Partners and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NGL Energy Partners and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NGL Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NGL Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NGL Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NGL Energy Partners to buy it.

Moving together with NGL Preferred Stock

0.64	AM	Antero Midstream Partners	Pair Corr
0.77	EE	Excelerate Energy	Pair Corr
0.64	DLNG	Dynagas LNG Partners Earnings Call This Week	Pair Corr
0.71	VNOM	Viper Energy Ut	Pair Corr
0.72	IMPPP	Imperial Petroleum	Pair Corr
0.69	DTM	DT Midstream	Pair Corr
0.72	GLP	Global Partners LP	Pair Corr
0.72	KMI	Kinder Morgan Fiscal Year End 15th of January 2025	Pair Corr
0.61	PBA	Pembina Pipeline Corp	Pair Corr
0.61	GLOP-PB	GasLog Partners LP	Pair Corr
0.69	TRP	TC Energy Corp	Pair Corr
0.7	WMB	Williams Companies	Pair Corr

Moving against NGL Preferred Stock

0.66	BPT	BP Prudhoe Bay	Pair Corr
0.52	BROGW	Brooge Energy Limited	Pair Corr
0.38	GEL	Genesis Energy LP	Pair Corr
0.34	PXSAW	Pyxis Tankers	Pair Corr
0.34	FRO	Frontline Earnings Call This Week	Pair Corr
0.58	LPG	Dorian LPG	Pair Corr
0.5	PXS	Pyxis Tankers	Pair Corr
0.4	NAT	Nordic American Tankers Earnings Call Tomorrow	Pair Corr
0.4	SMC	Summit Midstream Symbol Change	Pair Corr
0.4	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.4	TNK	Teekay Tankers	Pair Corr

Related Correlations Analysis

	GLOP-PC	GLP-PB	MMLP	GLOP-PA	DLNG-PB	SEAL-PB	DLNG-PA
GLOP-PC		0.54	0.46	0.73	0.43	0.39	0.53	GLOP-PC
GLP-PB	0.54		0.86	0.48	0.84	0.68	0.82	GLP-PB
MMLP	0.46	0.86		0.48	0.77	0.6	0.69	MMLP
GLOP-PA	0.73	0.48	0.48		0.55	0.47	0.56	GLOP-PA
DLNG-PB	0.43	0.84	0.77	0.55		0.73	0.8	DLNG-PB
SEAL-PB	0.39	0.68	0.6	0.47	0.73		0.65	SEAL-PB
DLNG-PA	0.53	0.82	0.69	0.56	0.8	0.65		DLNG-PA
	GLOP-PC	GLP-PB	MMLP	GLOP-PA	DLNG-PB	SEAL-PB	DLNG-PA

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Risk-Adjusted Indicators

There is a big difference between NGL Preferred Stock performing well and NGL 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 NGL 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
GLOP-PC	0.31	0.02	(0.10)	0.58	0.67	(0.33)	0.47	(0.39)	8.42
GLP-PB	0.18	0.04	(0.35)	(1.18)	0.00	(0.24)	0.47	(0.38)	1.27
MMLP	0.80	0.08	0.01	0.34	1.10	(1.06)	1.40	(1.40)	10.47
GLOP-PA	0.49	0.05	(0.08)	28.67	0.77	(0.47)	1.20	(1.03)	5.52
DLNG-PB	0.52	0.04	(0.12)	(0.30)	0.66	(0.55)	0.91	(1.00)	3.96
SEAL-PB	0.45	0.03	(0.16)	(0.11)	0.58	(0.51)	0.82	(1.04)	3.69
DLNG-PA	0.33	0.02	(0.20)	0.37	0.33	(0.37)	0.64	(0.75)	2.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in NGL Energy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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NGL Energy Corporate Management

Michael Krimbill	CEO and President	Profile
Douglas White	Ex LLC	Profile
Jennifer Kingham	VP Officer	Profile
Don Robinson	Ex Logistics	Profile
James Winter	VP LLC	Profile
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Kurston McMurray	Gen VP	Profile

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