ENERGY Correlations

29273RBC2

112.87 1.86 1.62%

The current 90-days correlation between ENERGY TRANSFER PARTNERS and AEP TEX INC is -0.39 (i.e., Very good diversification). The correlation of ENERGY 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.

ENERGY Correlation With Market

Significant diversification

The correlation between ENERGY TRANSFER PARTNERS and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ENERGY TRANSFER PARTNERS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ENERGY could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ENERGY when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ENERGY - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ENERGY TRANSFER PARTNERS to buy it.

Moving against ENERGY Bond

0.76	MSTY	YieldMax MSTR Option	Pair Corr
0.75	NVDA	NVIDIA	Pair Corr
0.73	CRWD	Crowdstrike Holdings Earnings Call This Week	Pair Corr
0.71	ALAB	Astera Labs, Common Tech Boost	Pair Corr
0.71	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.7	ADSK	Autodesk	Pair Corr
0.68	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.65	BTC	Grayscale Bitcoin Mini	Pair Corr
0.59	GM	General Motors Aggressive Push	Pair Corr
0.53	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.52	APLD	Applied Blockchain Trending	Pair Corr
0.49	RCAT	Red Cat Holdings Trending	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	DD	TRV	XOM	GE	JPM	MRK	T	JNJ
00108WAF7		-0.07	-0.02	0.02	-0.2	-0.11	-0.02	0.14	-0.07	0.14	00108WAF7
90331HPL1	-0.07		0.33	-0.21	-0.05	0.21	-0.45	0.32	-0.17	0.43	90331HPL1
DD	-0.02	0.33		0.09	0.5	0.75	-0.13	-0.05	0.27	-0.09	DD
TRV	0.02	-0.21	0.09		0.37	0.3	0.68	-0.76	0.83	-0.47	TRV
XOM	-0.2	-0.05	0.5	0.37		0.56	0.49	-0.56	0.39	-0.54	XOM
GE	-0.11	0.21	0.75	0.3	0.56		0.0	-0.12	0.38	-0.16	GE
JPM	-0.02	-0.45	-0.13	0.68	0.49	0.0		-0.82	0.45	-0.72	JPM
MRK	0.14	0.32	-0.05	-0.76	-0.56	-0.12	-0.82		-0.75	0.84	MRK
T	-0.07	-0.17	0.27	0.83	0.39	0.38	0.45	-0.75		-0.53	T
JNJ	0.14	0.43	-0.09	-0.47	-0.54	-0.16	-0.72	0.84	-0.53		JNJ
	00108WAF7	90331HPL1	DD	TRV	XOM	GE	JPM	MRK	T	JNJ

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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

JNJ	+ 0.84	MRK
T	+ 0.83	TRV
GE	+ 0.75	DD
JPM	+ 0.68	TRV
GE	+ 0.56	XOM
XOM	+ 0.5	DD

High negative correlations

MRK	- 0.82	JPM
MRK	- 0.76	TRV
T	- 0.75	MRK
JNJ	- 0.72	JPM
MRK	- 0.56	XOM
JNJ	- 0.54	XOM

Risk-Adjusted Indicators

There is a big difference between ENERGY Bond performing well and ENERGY Corporate Bond 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 ENERGY'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
00108WAF7	1.27	0.14	0.03	1.55	1.40	(1.38)	3.24	(2.55)	10.75
90331HPL1	0.32	(0.03)	0.00	0.45	0.00	0.00	0.32	(0.85)	7.03
DD	0.99	(0.02)	(0.04)	0.07	1.18	(1.05)	2.68	(2.46)	7.46
TRV	1.08	0.19	0.14	0.28	1.18	(1.26)	1.93	(2.17)	11.31
XOM	1.04	0.06	0.01	0.20	1.20	(1.10)	2.14	(2.09)	5.78
GE	1.27	(0.04)	(0.01)	0.06	2.21	(1.22)	2.85	(2.36)	14.10
JPM	1.11	0.03	0.07	0.12	1.44	(1.15)	2.05	(2.00)	15.87
MRK	0.85	(0.24)	0.00	(1.03)	0.00	0.00	1.73	(2.13)	4.89
T	0.92	0.26	0.15	57.17	0.86	(1.04)	2.56	(1.72)	6.47
JNJ	0.63	(0.07)	0.00	(0.23)	0.00	0.00	1.40	(1.42)	3.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in ENERGY without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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