One Gas Correlations

OGS Stock

USD 77.01 0.36 0.47%

The current 90-days correlation between One Gas and NewJersey Resources is 0.06 (i.e., Significant 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

Significant diversification

The correlation between One Gas and DJI is 0.01 (i.e., Significant 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.

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 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

0.85	ATO	Atmos Energy	Pair Corr
0.65	POM	POMDOCTOR LIMITED	Pair Corr

Moving against One Stock

0.74	CNL	Collective Mining	Pair Corr
0.72	MCHP	Microchip Technology Tech Boost	Pair Corr
0.64	BRK-B	Berkshire Hathaway Sell-off Trend	Pair Corr
0.49	ATI	Allegheny Technologies	Pair Corr
0.42	WSFS	WSFS Financial	Pair Corr
0.38	ASXSF	Elysee Development Corp	Pair Corr
0.69	ACN	Accenture plc	Pair Corr
0.64	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.63	AA	Alcoa Corp	Pair Corr
0.46	DIS	Walt Disney	Pair Corr
0.45	BAC	Bank of America Earnings Call This Week	Pair Corr
0.4	MRK	Merck Company Aggressive Push	Pair Corr
0.4	XOM	Exxon Mobil Corp	Pair Corr
0.36	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE
NJR		0.2	0.0	0.55	0.09	0.38	0.48	-0.01	NJR
CPK	0.2		0.39	-0.25	0.76	-0.22	0.01	0.54	CPK
SR	0.0	0.39		-0.42	0.65	0.04	0.08	0.55	SR
UGI	0.55	-0.25	-0.42		-0.45	0.65	0.7	-0.7	UGI
NI	0.09	0.76	0.65	-0.45		-0.25	-0.03	0.69	NI
NWE	0.38	-0.22	0.04	0.65	-0.25		0.5	-0.38	NWE
SWX	0.48	0.01	0.08	0.7	-0.03	0.5		-0.33	SWX
OGE	-0.01	0.54	0.55	-0.7	0.69	-0.38	-0.33		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

NI	+ 0.76	CPK
SWX	+ 0.7	UGI
OGE	+ 0.69	NI
NI	+ 0.65	SR
NWE	+ 0.65	UGI
UGI	+ 0.55	NJR

High negative correlations

OGE	- 0.7	UGI
NI	- 0.45	UGI
UGI	- 0.42	SR
OGE	- 0.38	NWE
OGE	- 0.33	SWX
NWE	- 0.25	NI

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	0.87	0.00	(0.06)	0.10	1.10	(0.93)	1.64	(1.92)	7.11
CPK	0.88	(0.17)	0.00	2.74	0.00	0.00	1.78	(2.41)	5.00
SR	0.89	0.02	(0.03)	0.16	1.17	(0.87)	1.75	(2.11)	4.70
UGI	0.87	0.23	0.17	0.60	0.74	(1.05)	2.15	(1.27)	10.28
NI	0.79	(0.10)	0.00	(0.72)	0.00	0.00	1.44	(1.72)	4.36
NWE	0.97	0.16	0.08	0.56	1.09	(1.01)	2.73	(2.21)	6.73
SWX	0.81	0.08	0.00	0.58	1.00	(0.88)	1.85	(1.30)	5.91
OGE	0.70	(0.13)	0.00	(0.28)	0.00	0.00	1.24	(1.77)	3.58

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