One Gas Correlations

OGS Stock

USD 79.91 1.03 1.27%

The current 90-days correlation between One Gas and NewJersey Resources is 0.8 (i.e., Very poor 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

Very weak diversification

The correlation between One Gas and DJI is 0.43 (i.e., Very weak 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.

Build AI portfolio with One Stock

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 rate.

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

Moving together with One Stock

0.88	SR	Spire Inc	Pair Corr
0.86	ATO	Atmos Energy	Pair Corr
0.83	BKH	Black Hills	Pair Corr
0.89	CPK	Chesapeake Utilities	Pair Corr
0.93	NJR	NewJersey Resources	Pair Corr
0.86	NWN	Northwest Natural Gas	Pair Corr
0.76	SR-PA	Spire Inc	Pair Corr
0.69	D	Dominion Energy	Pair Corr
0.85	FE	FirstEnergy	Pair Corr
0.8	DUKB	Duke Energy Corp	Pair Corr
0.77	CMS-PB	Consumers Energy	Pair Corr
0.85	CMS-PC	CMS Energy	Pair Corr
0.83	CDZIP	Cadiz Depositary Shares	Pair Corr
0.7	ELPC	Companhia Paranaense	Pair Corr
0.65	ENIC	Enel Chile SA	Pair Corr
0.76	ENLT	Enlight Renewable Energy	Pair Corr
0.83	EVRG	Evergy,	Pair Corr
0.68	WTRG	Essential Utilities	Pair Corr
0.68	AEE	Ameren Corp	Pair Corr

Moving against One Stock

0.8	RNWWW	ReNew Energy Global	Pair Corr
0.71	UGI	UGI Corporation	Pair Corr
0.71	EDN	Empresa Distribuidora	Pair Corr
0.63	AQN	Algonquin Power Utilities	Pair Corr
0.47	AWR	American States Water	Pair Corr

Related Correlations Analysis

	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE
NJR		0.77	0.85	-0.53	0.59	0.86	0.67	0.58	NJR
CPK	0.77		0.88	-0.73	0.21	0.68	0.32	0.3	CPK
SR	0.85	0.88		-0.52	0.43	0.65	0.52	0.52	SR
UGI	-0.53	-0.73	-0.52		-0.04	-0.72	-0.28	0.16	UGI
NI	0.59	0.21	0.43	-0.04		0.51	0.49	0.78	NI
NWE	0.86	0.68	0.65	-0.72	0.51		0.59	0.33	NWE
SWX	0.67	0.32	0.52	-0.28	0.49	0.59		0.38	SWX
OGE	0.58	0.3	0.52	0.16	0.78	0.33	0.38		OGE
	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE

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

SR	+ 0.88	CPK
NWE	+ 0.86	NJR
SR	+ 0.85	NJR
OGE	+ 0.78	NI
CPK	+ 0.77	NJR
NWE	+ 0.68	CPK

High negative correlations

UGI	- 0.73	CPK
NWE	- 0.72	UGI
UGI	- 0.53	NJR
UGI	- 0.52	SR
SWX	- 0.28	UGI
NI	- 0.04	UGI

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	0.72	0.07	0.03	0.24	0.87	(0.72)	1.50	(1.55)	4.31
CPK	0.76	0.12	0.11	0.23	0.68	(0.85)	1.77	(1.56)	4.24
SR	0.78	0.13	0.09	0.28	0.95	(0.85)	1.90	(1.50)	5.76
UGI	0.87	(0.16)	0.00	(0.19)	0.00	0.00	1.81	(1.88)	5.00
NI	0.96	0.14	0.04	(1.03)	1.43	(0.95)	1.95	(2.15)	6.91
NWE	0.87	0.14	0.11	0.26	0.85	(0.94)	2.08	(1.81)	8.87
SWX	0.85	0.04	0.01	0.14	0.92	(0.94)	2.15	(1.70)	4.50
OGE	0.75	0.02	(0.02)	0.13	0.85	(0.81)	1.31	(1.55)	3.18

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