One Gas Correlations

Stocks . USA . 
Stock . One Gas
OGS Stock  USD 76.88  0.84  1.10%   
The current 90-days correlation between One Gas and Northwest Natural Gas is 0.8 (i.e., Very poor diversification). The correlation of One Gas 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.

One Gas Correlation With Market

Very weak diversification

The correlation between One Gas and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding One Gas and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in One Gas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.
For more information on how to buy One Stock please use our How to Invest in One Gas guide.

Moving together with One Stock

  0.83NI NiSourcePairCorr
  0.67SR Spire IncPairCorr
  0.88ATO Atmos EnergyPairCorr
  0.89BKH Black HillsPairCorr
  0.91CPK Chesapeake UtilitiesPairCorr
  0.86NJR NewJersey ResourcesPairCorr
  0.68NWN Northwest Natural GasPairCorr
  0.81SWX Southwest Gas HoldingsPairCorr
  0.9BIPC Brookfield InfrastructurePairCorr
  0.73SR-PA Spire IncPairCorr
  0.77AY Atlantica SustainablePairCorr
  0.88EVRG Evergy,PairCorr
  0.62FLNC Fluence Energy Fiscal Year End 26th of November 2024 PairCorr

Moving against One Stock

  0.64NFE New Fortress EnergyPairCorr
  0.35ES Eversource EnergyPairCorr
  0.51ELPC Companhia ParanaensePairCorr
  0.45HE Hawaiian ElectricPairCorr

Related Correlations Analysis

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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   
NJR
+ 0.93
CPK
NJR
+ 0.82
NWN
CPK
+ 0.79
NWN
ATO
+ 0.78
CPK
ATO
+ 0.7
NJR
ATO
+ 0.64
NWN
  
High negative correlations   
ATO
- 0.81
UGIC
UGIC
- 0.71
CPK
NJR
- 0.58
UGIC
RGCO
- 0.44
UGIC
ATO
- 0.36
NIMC
UGIC
- 0.35
NWN

Risk-Adjusted Indicators

There is a big difference between One Stock performing well and One Gas 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 One Gas' 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.

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