Suburban Propane Correlations

SPH Stock

USD 21.56 0.10 0.47%

The current 90-days correlation between Suburban Propane Partners and Northwest Natural Gas is 0.49 (i.e., Very weak diversification). The correlation of Suburban Propane 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.

Suburban Propane Correlation With Market

Modest diversification

The correlation between Suburban Propane Partners and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Suburban Propane Partners and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Suburban Stock

0.74	NI	NiSource Earnings Call This Week	Pair Corr
0.76	SR	Spire Inc	Pair Corr
0.7	UGI	UGI Corporation Sell-off Trend	Pair Corr
0.62	CTRI	Centuri Holdings,	Pair Corr
0.7	CDZIP	Cadiz Depositary Shares	Pair Corr
0.79	ELPC	Companhia Paranaense	Pair Corr
0.67	ENIC	Enel Chile SA	Pair Corr
0.8	EVRG	Evergy,	Pair Corr
0.87	AEE	Ameren Corp Earnings Call This Week	Pair Corr
0.82	AEP	American Electric Power	Pair Corr

Moving against Suburban Stock

0.4	OPAL	OPAL Fuels	Pair Corr
0.76	AES	AES	Pair Corr
0.65	FLNC	Fluence Energy	Pair Corr
0.48	VSTE	Vast Renewables	Pair Corr
0.45	WAVE	Eco Wave Power	Pair Corr
0.38	AWR	American States Water Earnings Call This Week	Pair Corr
0.36	BEP	Brookfield Renewable	Pair Corr

Related Correlations Analysis

	NWN	NJR	ATO	UGIC	CPK	OGS	NIMC	RGCO	SR	NI
NWN		0.87	0.84	0.0	0.96	0.89	0.0	0.47	0.49	0.39	NWN
NJR	0.87		0.71	0.0	0.89	0.83	0.0	0.27	0.42	0.21	NJR
ATO	0.84	0.71		0.0	0.77	0.9	0.0	0.58	0.55	0.62	ATO
UGIC	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	UGIC
CPK	0.96	0.89	0.77	0.0		0.9	0.0	0.4	0.38	0.27	CPK
OGS	0.89	0.83	0.9	0.0	0.9		0.0	0.4	0.3	0.32	OGS
NIMC	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NIMC
RGCO	0.47	0.27	0.58	0.0	0.4	0.4	0.0		0.42	0.42	RGCO
SR	0.49	0.42	0.55	0.0	0.38	0.3	0.0	0.42		0.85	SR
NI	0.39	0.21	0.62	0.0	0.27	0.32	0.0	0.42	0.85		NI
	NWN	NJR	ATO	UGIC	CPK	OGS	NIMC	RGCO	SR	NI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CPK	+ 0.96	NWN
OGS	+ 0.9	ATO
OGS	+ 0.9	CPK
OGS	+ 0.89	NWN
CPK	+ 0.89	NJR
NJR	+ 0.87	NWN

High negative correlations

NI	- 0.0	NIMC
SR	- 0.0	NIMC
RGCO	- 0.0	NIMC
NIMC	- 0.0	OGS
NIMC	- 0.0	CPK
NI	- 0.0	UGIC

Risk-Adjusted Indicators

There is a big difference between Suburban Stock performing well and Suburban Propane 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 Suburban Propane'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
NWN	0.96	0.01	0.00	0.01	1.37	(0.98)	2.01	(2.20)	7.01
NJR	0.99	(0.03)	0.00	(0.04)	0.00	0.00	2.02	(2.45)	6.85
ATO	0.88	0.03	0.02	0.08	1.17	(0.92)	2.06	(1.78)	5.58
UGIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CPK	0.96	(0.03)	0.00	(0.05)	0.00	0.00	1.72	(1.99)	6.65
OGS	1.05	(0.03)	0.00	(0.05)	0.00	0.00	2.07	(1.92)	7.30
NIMC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RGCO	1.68	(0.10)	0.00	(0.15)	0.00	0.00	3.03	(3.48)	10.78
SR	1.12	0.23	0.12	0.34	1.59	(1.10)	2.68	(2.63)	8.95
NI	0.87	0.16	0.12	0.43	1.06	(0.89)	1.93	(2.01)	6.69

Suburban Propane Corporate Management

Jane Swift	Independent Member of the Supervisory Board	Profile
M Dagan	Vice President Strategic Initiatives - Renewable Energy	Profile
Francesca Cleffi	Vice President of Human Resources	Profile
Matthew Chanin	Independent Member of the Supervisory Board	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC