One Gas Correlations

OGS Stock

USD 79.56 0.47 0.59%

The current 90-days correlation between One Gas and NewJersey Resources is 0.67 (i.e., 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

Pay attention - limited upside

The correlation between One Gas and DJI is -0.74 (i.e., Pay attention - limited upside) 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.

Build AI portfolio with One Stock

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 various price indices.

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

Moving together with One Stock

0.8	SR	Spire Inc	Pair Corr
0.93	CPK	Chesapeake Utilities	Pair Corr
0.66	NWN	Northwest Natural Gas	Pair Corr
0.86	CH5	Chesapeake Utilities	Pair Corr
0.74	POM	POMDOCTOR LIMITED	Pair Corr
0.69	TRNR	Interactive Strength	Pair Corr
0.64	APVO	Aptevo Therapeutics	Pair Corr

Moving against One Stock

0.67	WNC	Wabash National Earnings Call This Week	Pair Corr
0.63	CNL	Collective Mining	Pair Corr
0.76	LOGN	Logansport Financial Corp	Pair Corr
0.76	BNS	Bank of Nova Scotia	Pair Corr
0.72	NGS	Natural Gas Services	Pair Corr
0.72	AMXEF	Amex Exploration	Pair Corr
0.68	WMT	Walmart Common Stock	Pair Corr
0.66	THSGF	Thesis Gold	Pair Corr
0.66	FET	Forum Energy Technologies	Pair Corr
0.65	CYCC	Cyclacel Pharmaceuticals Symbol Change	Pair Corr
0.63	SPB	Spectrum Brands Holdings	Pair Corr
0.58	SBSW	Sibanye Gold	Pair Corr
0.39	PANL	Pangaea Logistic	Pair Corr
0.85	DBI	Designer Brands	Pair Corr
0.8	GS	Goldman Sachs Group	Pair Corr

Related Correlations Analysis

	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE
NJR		-0.01	-0.12	0.72	0.5	0.7	0.75	0.02	NJR
CPK	-0.01		0.71	-0.31	0.42	-0.03	-0.19	0.75	CPK
SR	-0.12	0.71		-0.54	0.55	-0.28	-0.12	0.82	SR
UGI	0.72	-0.31	-0.54		0.04	0.7	0.56	-0.4	UGI
NI	0.5	0.42	0.55	0.04		0.32	0.48	0.68	NI
NWE	0.7	-0.03	-0.28	0.7	0.32		0.62	-0.07	NWE
SWX	0.75	-0.19	-0.12	0.56	0.48	0.62		0.08	SWX
OGE	0.02	0.75	0.82	-0.4	0.68	-0.07	0.08		OGE
	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE

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

OGE	+ 0.82	SR
SWX	+ 0.75	NJR
OGE	+ 0.75	CPK
UGI	+ 0.72	NJR
SR	+ 0.71	CPK
NWE	+ 0.7	NJR

High negative correlations

UGI	- 0.54	SR
OGE	- 0.4	UGI
UGI	- 0.31	CPK
NWE	- 0.28	SR
SWX	- 0.19	CPK
SWX	- 0.12	SR

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NJR	0.85	0.14	0.09	(0.71)	0.94	(0.97)	1.64	(1.88)	7.11
CPK	0.93	(0.03)	0.00	(0.86)	0.00	0.00	1.99	(2.41)	5.00
SR	0.87	(0.07)	0.00	(0.23)	0.00	0.00	1.56	(2.11)	4.16
UGI	0.85	0.25	0.22	0.53	0.71	(1.01)	2.42	(1.21)	10.28
NI	0.81	0.01	(0.01)	0.06	0.99	(0.79)	1.44	(1.62)	4.36
NWE	1.01	0.14	0.08	0.53	1.26	(1.04)	1.78	(2.21)	6.73
SWX	0.84	0.03	0.01	0.18	1.14	(0.89)	1.96	(1.68)	5.91
OGE	0.72	(0.09)	0.00	(0.30)	0.00	0.00	1.36	(1.77)	3.57

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