Summit Midstream Correlations

SMC Stock

29.94 0.84 2.89%

The current 90-days correlation between Summit Midstream and PrimeEnergy is 0.2 (i.e., Modest diversification). The correlation of Summit Midstream 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.

Summit Midstream Correlation With Market

Poor diversification

The correlation between Summit Midstream and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Summit Midstream and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Summit Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Summit Midstream. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For information on how to trade Summit Stock refer to our How to Trade Summit Stock guide.

Moving together with Summit Stock

0.68	AM	Antero Midstream Partners	Pair Corr
0.78	EE	Excelerate Energy	Pair Corr
0.68	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.7	DLNG	Dynagas LNG Partners	Pair Corr
0.76	SRR	Source Rock Royalties	Pair Corr
0.67	AQ30	ALTAGAS LTD PRFG	Pair Corr
0.65	G2O	Golar LNG Limited Earnings Call This Week	Pair Corr
0.68	KEY	Keyera Corp	Pair Corr
0.7	TPZ	Topaz Energy Corp Earnings Call This Week	Pair Corr
0.65	P5P	Pembina Pipeline Corp Earnings Call This Week	Pair Corr
0.74	K2Y	Keyera Corp	Pair Corr
0.79	CQP	Cheniere Energy Partners Earnings Call Today	Pair Corr
0.68	OCW	Euronav NV Earnings Call This Week	Pair Corr
0.71	DKL	Delek Logistics Partners	Pair Corr
0.85	DTM	DT Midstream Earnings Call Today	Pair Corr
0.7	EPD	Enterprise Products	Pair Corr
0.77	ETP	Energy Transfer Partners	Pair Corr
0.75	GEL	Genesis Energy LP	Pair Corr
0.73	GLP	Global Partners LP	Pair Corr
0.75	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.79	KYN	Kayne Anderson MLP	Pair Corr
0.64	LPG	Dorian LPG	Pair Corr
0.61	NAT	Nordic American Tankers Earnings Call Tomorrow	Pair Corr
0.69	NGL	NGL Energy Partners	Pair Corr
0.84	OKE	ONEOK Inc Earnings Call This Week	Pair Corr
0.84	PAA	Plains All American	Pair Corr
0.72	PBA	Pembina Pipeline Corp Earnings Call Today	Pair Corr
0.63	SFL	SFL Corporation Sell-off Trend	Pair Corr

Moving against Summit Stock

0.61

SAK

Sinopec Kantons Holdings

Pair Corr

Related Correlations Analysis

	PNRG	BRY	HUSA	RNGR	REI	AMTX	BOOM	GEOS	TOYO	FET
PNRG		-0.49	-0.45	0.48	0.3	-0.4	0.45	-0.48	0.33	0.51	PNRG
BRY	-0.49		0.55	-0.53	-0.21	0.62	-0.64	0.12	-0.09	-0.7	BRY
HUSA	-0.45	0.55		-0.92	-0.86	0.2	-0.78	0.45	-0.78	-0.93	HUSA
RNGR	0.48	-0.53	-0.92		0.9	-0.07	0.87	-0.32	0.79	0.95	RNGR
REI	0.3	-0.21	-0.86	0.9		0.15	0.72	-0.4	0.87	0.81	REI
AMTX	-0.4	0.62	0.2	-0.07	0.15		-0.15	0.33	0.16	-0.26	AMTX
BOOM	0.45	-0.64	-0.78	0.87	0.72	-0.15		-0.05	0.56	0.92	BOOM
GEOS	-0.48	0.12	0.45	-0.32	-0.4	0.33	-0.05		-0.4	-0.3	GEOS
TOYO	0.33	-0.09	-0.78	0.79	0.87	0.16	0.56	-0.4		0.66	TOYO
FET	0.51	-0.7	-0.93	0.95	0.81	-0.26	0.92	-0.3	0.66		FET
	PNRG	BRY	HUSA	RNGR	REI	AMTX	BOOM	GEOS	TOYO	FET

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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

FET	+ 0.95	RNGR
FET	+ 0.92	BOOM
REI	+ 0.9	RNGR
BOOM	+ 0.87	RNGR
TOYO	+ 0.87	REI
FET	+ 0.81	REI

High negative correlations

FET	- 0.93	HUSA
RNGR	- 0.92	HUSA
REI	- 0.86	HUSA
TOYO	- 0.78	HUSA
BOOM	- 0.78	HUSA
FET	- 0.7	BRY

Risk-Adjusted Indicators

There is a big difference between Summit Stock performing well and Summit Midstream 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 Summit Midstream'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
PNRG	2.72	0.35	0.10	0.65	3.07	(3.08)	5.49	(4.31)	20.89
BRY	1.47	(0.27)	0.00	0.86	0.00	0.00	2.46	(4.20)	8.78
HUSA	4.77	(1.85)	0.00	3.57	0.00	0.00	7.08	(11.54)	44.49
RNGR	1.87	0.23	0.11	0.20	2.07	(2.22)	4.32	(3.79)	9.09
REI	2.32	0.42	0.17	0.44	2.05	(3.31)	6.35	(3.09)	14.89
AMTX	3.83	(0.41)	0.00	(0.18)	0.00	0.00	9.68	(8.05)	23.32
BOOM	2.40	0.45	0.15	0.31	2.49	(2.69)	6.18	(3.91)	16.88
GEOS	5.84	(1.21)	0.00	(0.41)	0.00	0.00	9.49	(11.31)	59.94
TOYO	3.26	0.27	0.07	0.27	3.74	(3.58)	8.28	(5.34)	28.62
FET	1.99	0.88	0.44	1.13	1.40	(2.49)	4.71	(2.74)	13.46

Summit Midstream Corporate Management

James Johnston	General VP	Profile
Carrie Vruno	VP Controller	Profile
Hugo Guerrero	Senior Operations	Profile
Randall Burton	Treasurer Finance	Profile
Christopher Tennant	Senior Officer	Profile
Matthew Sicinski	Senior Officer	Profile

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