Energy Transfer Correlations

ET-PI Stock

11.89 0.06 0.50%

The current 90-days correlation between Energy Transfer LP and Plains All American is 0.11 (i.e., Average diversification). The correlation of Energy Transfer 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 Transfer Correlation With Market

Significant diversification

The correlation between Energy Transfer LP and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Transfer LP and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Energy Transfer LP. 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 Energy Stock

0.77	EE	Excelerate Energy	Pair Corr
0.79	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.71	DLNG	Dynagas LNG Partners Earnings Call Tomorrow	Pair Corr
0.67	VNOM	Viper Energy Ut	Pair Corr
0.79	ENLC	EnLink Midstream LLC	Pair Corr
0.67	IMPPP	Imperial Petroleum	Pair Corr
0.72	CQP	Cheniere Energy Partners	Pair Corr
0.82	DTM	DT Midstream	Pair Corr
0.77	ENB	Enbridge	Pair Corr
0.78	EPD	Enterprise Products	Pair Corr
0.74	GLP	Global Partners LP	Pair Corr
0.79	KMI	Kinder Morgan Sell-off Trend	Pair Corr
0.84	LNG	Cheniere Energy Sell-off Trend	Pair Corr
0.87	OKE	ONEOK Inc	Pair Corr
0.68	TRP	TC Energy Corp	Pair Corr
0.77	WMB	Williams Companies	Pair Corr

Moving against Energy Stock

0.78	LPG	Dorian LPG	Pair Corr
0.74	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.73	GEL	Genesis Energy LP	Pair Corr
0.62	FRO	Frontline Earnings Call Tomorrow	Pair Corr
0.46	TK	Teekay	Pair Corr
0.44	BROGW	Brooge Energy Limited	Pair Corr
0.42	DHT	DHT Holdings	Pair Corr
0.78	STNG	Scorpio Tankers	Pair Corr
0.76	TNK	Teekay Tankers	Pair Corr
0.71	IMPP	Imperial Petroleum	Pair Corr
0.71	INSW	International Seaways	Pair Corr

Related Correlations Analysis

	PAA	GEL	WES	HESM	KMI	FLNG	GLNG	AM
PAA		0.13	0.36	0.68	0.08	0.54	0.04	0.37	PAA
GEL	0.13		0.28	0.11	-0.7	0.57	-0.12	-0.25	GEL
WES	0.36	0.28		0.55	0.06	0.42	0.23	0.38	WES
HESM	0.68	0.11	0.55		0.19	0.5	-0.05	0.38	HESM
KMI	0.08	-0.7	0.06	0.19		-0.35	0.59	0.77	KMI
FLNG	0.54	0.57	0.42	0.5	-0.35		-0.22	0.04	FLNG
GLNG	0.04	-0.12	0.23	-0.05	0.59	-0.22		0.77	GLNG
AM	0.37	-0.25	0.38	0.38	0.77	0.04	0.77		AM
	PAA	GEL	WES	HESM	KMI	FLNG	GLNG	AM

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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

AM	+ 0.77	KMI
AM	+ 0.77	GLNG
HESM	+ 0.68	PAA
GLNG	+ 0.59	KMI
FLNG	+ 0.57	GEL
HESM	+ 0.55	WES

High negative correlations

KMI	- 0.7	GEL
FLNG	- 0.35	KMI
AM	- 0.25	GEL
GLNG	- 0.22	FLNG
GLNG	- 0.12	GEL
GLNG	- 0.05	HESM

Risk-Adjusted Indicators

There is a big difference between Energy Stock performing well and Energy Transfer 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 Energy Transfer'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
PAA	1.00	0.00	(0.08)	0.21	1.34	(1.01)	1.95	(2.14)	6.78
GEL	1.39	(0.27)	0.00	(0.19)	0.00	0.00	3.25	(2.58)	14.40
WES	1.11	0.07	(0.01)	0.42	1.32	(1.16)	2.30	(2.16)	5.82
HESM	0.88	(0.01)	(0.07)	0.10	1.10	(0.96)	2.08	(2.13)	5.41
KMI	0.94	0.34	0.35	0.58	0.42	(1.26)	1.93	(1.40)	8.88
FLNG	1.36	(0.24)	0.00	(0.23)	0.00	0.00	2.79	(2.43)	7.82
GLNG	1.78	0.10	0.09	0.18	1.76	(2.12)	4.69	(3.75)	15.90
AM	0.99	0.05	0.02	0.19	1.26	(1.03)	2.27	(2.12)	6.60

Energy Transfer Corporate Management

James Wright	General VP	Profile
Brent Ratliff	Investor VP	Profile
Troy Sturrock	Controller VP	Profile
Thomas Mason	LLC GP	Profile
Thomas CPA	LLC GP	Profile
Steve Hotte	Group Officer	Profile
Thomas Long	LLC GP	Profile

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