SMLP Old Correlations

Summary

The current 90-days correlation between SMLP Old and Green Plains Partners is -0.07 (i.e., Good diversification). The correlation of SMLP Old 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.

SMLP Old Correlation With Market

Good diversification

The correlation between SMLP Old and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SMLP Old and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SMLP Stock

0.61	CMWCF	Cromwell Property	Pair Corr
0.64	BA	Boeing	Pair Corr

Moving against SMLP Stock

0.69	HPQ	HP Inc	Pair Corr
0.63	PBCRF	PT Bank Central	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr
0.63	VZ	Verizon Communications	Pair Corr
0.63	AA	Alcoa Corp	Pair Corr
0.62	BKRKF	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.56	TRV	The Travelers Companies	Pair Corr
0.53	PBMRF	PT Bumi Resources	Pair Corr
0.53	MCD	McDonalds Earnings Call This Week	Pair Corr
0.5	KO	Coca Cola Earnings Call This Week	Pair Corr
0.49	INTC	Intel	Pair Corr
0.46	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	GEL	BROG	GPP	HEP	HESM	DTM	NGL-PB	MMLP	NGL-PC	NS
GEL		0.37	-0.36	-0.64	-0.44	-0.41	-0.62	0.48	-0.64	-0.61	GEL
BROG	0.37		-0.41	-0.54	-0.74	-0.68	-0.62	0.35	-0.66	-0.58	BROG
GPP	-0.36	-0.41		0.7	0.73	0.39	0.62	-0.46	0.6	0.44	GPP
HEP	-0.64	-0.54	0.7		0.84	0.61	0.88	-0.6	0.91	0.89	HEP
HESM	-0.44	-0.74	0.73	0.84		0.77	0.89	-0.66	0.89	0.73	HESM
DTM	-0.41	-0.68	0.39	0.61	0.77		0.64	-0.44	0.71	0.67	DTM
NGL-PB	-0.62	-0.62	0.62	0.88	0.89	0.64		-0.81	0.96	0.75	NGL-PB
MMLP	0.48	0.35	-0.46	-0.6	-0.66	-0.44	-0.81		-0.76	-0.45	MMLP
NGL-PC	-0.64	-0.66	0.6	0.91	0.89	0.71	0.96	-0.76		0.8	NGL-PC
NS	-0.61	-0.58	0.44	0.89	0.73	0.67	0.75	-0.45	0.8		NS
	GEL	BROG	GPP	HEP	HESM	DTM	NGL-PB	MMLP	NGL-PC	NS

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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

NGL-PC	+ 0.96	NGL-PB
NGL-PC	+ 0.91	HEP
NS	+ 0.89	HEP
NGL-PB	+ 0.89	HESM
NGL-PC	+ 0.89	HESM
NGL-PB	+ 0.88	HEP

High negative correlations

MMLP	- 0.81	NGL-PB
NGL-PC	- 0.76	MMLP
HESM	- 0.74	BROG
DTM	- 0.68	BROG
MMLP	- 0.66	HESM
NGL-PC	- 0.66	BROG

Risk-Adjusted Indicators

There is a big difference between SMLP Stock performing well and SMLP Old 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 SMLP Old'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
GEL	1.73	(0.20)	0.00	4.20	0.00	0.00	3.80	(3.23)	11.78
BROG	5.62	(0.55)	0.00	(3.70)	0.00	0.00	11.88	(12.97)	36.46
GPP	1.27	0.18	0.06	1.08	1.32	(1.39)	2.88	(2.31)	7.85
HEP	1.05	0.22	0.10	(14.65)	1.08	(1.11)	2.21	(1.97)	4.89
HESM	1.14	0.26	0.13	1.66	1.14	(1.29)	2.61	(2.45)	6.98
DTM	1.59	0.23	0.06	0.67	2.67	(1.53)	3.33	(3.33)	18.00
NGL-PB	0.53	0.09	0.01	0.96	0.55	(0.59)	1.14	(1.11)	5.27
MMLP	1.05	(0.15)	0.00	(0.20)	0.00	0.00	2.29	(3.73)	11.47
NGL-PC	0.47	0.10	0.01	(1.33)	0.44	(0.58)	1.06	(0.85)	3.92
NS	1.06	0.17	0.09	0.96	0.97	(1.28)	2.56	(2.04)	6.35

Delisting Warning - SMLP

SMLP Old was delisted

The entity SMLP Old with a symbol SMLP was delisted from NASDAQ Exchange. Please try Summit Midstream with a symbol SMC from now on. Check all delisted instruments accross multiple markets.

Still Interested in SMLP Old?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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