One Gas Correlations

OGS Stock

USD 74.14 0.32 0.43%

The current 90-days correlation between One Gas and NewJersey Resources is -0.03 (i.e., Good diversification). The correlation of One Gas 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.

One Gas Correlation With Market

Good diversification

The correlation between One Gas and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding One Gas and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in One Gas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For more information on how to buy One Stock please use our How to Invest in One Gas guide.

Moving together with One Stock

0.76	ATO	Atmos Energy	Pair Corr
0.81	BKH	Black Hills Earnings Call This Week	Pair Corr
0.85	CPK	Chesapeake Utilities	Pair Corr
0.67	NFE	New Fortress Energy	Pair Corr
0.76	NJR	NewJersey Resources	Pair Corr
0.78	NWN	Northwest Natural Gas	Pair Corr
0.64	SPH	Suburban Propane Partners	Pair Corr
0.83	ED	Consolidated Edison	Pair Corr
0.74	FE	FirstEnergy Earnings Call This Week	Pair Corr
0.88	WTRG	Essential Utilities	Pair Corr

Moving against One Stock

0.77	VG	Venture Global,	Pair Corr
0.73	UGI	UGI Corporation	Pair Corr
0.73	BIPC	Brookfield Infrastructure	Pair Corr
0.62	ES	Eversource Energy Earnings Call Tomorrow	Pair Corr
0.57	CTRI	Centuri Holdings,	Pair Corr
0.53	OPAL	OPAL Fuels	Pair Corr
0.52	D	Dominion Energy	Pair Corr
0.46	HE	Hawaiian Electric	Pair Corr
0.31	RGCO	RGC Resources	Pair Corr
0.73	BEP	Brookfield Renewable	Pair Corr
0.71	ELPC	Companhia Paranaense	Pair Corr
0.69	ENLT	Enlight Renewable Energy	Pair Corr
0.59	AQN	Algonquin Power Utilities	Pair Corr
0.42	AES	AES Earnings Call This Week	Pair Corr
0.36	ELLO	Ellomay Capital	Pair Corr

Related Correlations Analysis

	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE
NJR		0.91	0.77	-0.87	-0.1	0.91	0.03	0.68	NJR
CPK	0.91		0.69	-0.82	-0.15	0.83	0.04	0.55	CPK
SR	0.77	0.69		-0.47	0.37	0.55	0.49	0.86	SR
UGI	-0.87	-0.82	-0.47		0.45	-0.89	0.32	-0.35	UGI
NI	-0.1	-0.15	0.37	0.45		-0.32	0.8	0.55	NI
NWE	0.91	0.83	0.55	-0.89	-0.32		-0.3	0.51	NWE
SWX	0.03	0.04	0.49	0.32	0.8	-0.3		0.5	SWX
OGE	0.68	0.55	0.86	-0.35	0.55	0.51	0.5		OGE
	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE

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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

CPK	+ 0.91	NJR
NWE	+ 0.91	NJR
OGE	+ 0.86	SR
NWE	+ 0.83	CPK
SWX	+ 0.8	NI
SR	+ 0.77	NJR

High negative correlations

NWE	- 0.89	UGI
UGI	- 0.87	NJR
UGI	- 0.82	CPK
UGI	- 0.47	SR
OGE	- 0.35	UGI
NWE	- 0.32	NI

Risk-Adjusted Indicators

There is a big difference between One Stock performing well and One Gas 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 One Gas' 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
NJR	0.79	(0.14)	0.00	(0.22)	0.00	0.00	1.62	(1.70)	4.43
CPK	1.11	(0.11)	0.00	0.93	0.00	0.00	1.77	(2.90)	6.81
SR	0.84	(0.02)	(0.13)	0.06	1.20	(0.80)	1.56	(2.11)	4.84
UGI	0.79	0.26	0.03	(0.81)	0.95	(0.80)	2.02	(2.14)	7.74
NI	0.93	0.05	(0.03)	0.29	1.13	(0.95)	2.15	(1.95)	6.03
NWE	0.87	(0.18)	0.00	(0.23)	0.00	0.00	1.40	(2.16)	4.57
SWX	1.22	0.11	(0.01)	0.64	1.84	(1.26)	2.55	(2.32)	11.50
OGE	0.83	(0.03)	(0.11)	0.11	1.08	(0.81)	1.44	(1.90)	4.82

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