One Gas Correlations

OGS Stock

USD 82.22 0.79 0.97%

The current 90-days correlation between One Gas and NewJersey Resources is 0.81 (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

Modest diversification

The correlation between One Gas and DJI is 0.25 (i.e., Modest 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
0.76	SPB	Superior Plus Corp Earnings Call This Week	Pair Corr
0.75	APA	APA Group	Pair Corr
0.83	ATO	Atmos Energy	Pair Corr
0.72	CPK	Chesapeake Utilities	Pair Corr
0.87	MDU	MDU Resources Group	Pair Corr
0.84	NWN	Northwest Natural Gas	Pair Corr
0.74	SGU	Star Gas Partners	Pair Corr
0.72	GSPL	Gujarat State Petronet Earnings Call This Week	Pair Corr
0.84	600635	Shanghai DaZhong Public	Pair Corr
0.66	BIPC	Brookfield Infrastructure	Pair Corr
0.71	EVGN	EverGen Infrastructure	Pair Corr
0.88	BIPC	Brookfield Infrastructure	Pair Corr
0.79	SSNLF	Samsung Electronics	Pair Corr

Moving against One Stock

0.59	CFY	CF Energy Corp	Pair Corr
0.54	GUJGASLTD	Gujarat Gas Limited	Pair Corr
0.53	UGI	UGI Corporation Earnings Call This Week	Pair Corr
0.35	MGL	Mahanagar Gas Limited	Pair Corr
0.33	NFG	National Fuel Gas	Pair Corr
0.76	DTW	DTE Energy	Pair Corr
0.68	BKRKY	Bank Rakyat	Pair Corr
0.49	PPERY	Bank Mandiri Persero	Pair Corr
0.46	RGCO	RGC Resources	Pair Corr
0.45	SOJC	Southern	Pair Corr
0.4	PTAIF	PT Astra International	Pair Corr

Related Correlations Analysis

	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE
NJR		0.04	-0.43	0.15	0.0	-0.36	-0.34	0.05	NJR
CPK	0.04		0.73	-0.74	0.64	0.59	0.19	0.6	CPK
SR	-0.43	0.73		-0.45	0.7	0.9	0.54	0.6	SR
UGI	0.15	-0.74	-0.45		-0.22	-0.27	-0.05	-0.37	UGI
NI	0.0	0.64	0.7	-0.22		0.62	0.23	0.76	NI
NWE	-0.36	0.59	0.9	-0.27	0.62		0.5	0.47	NWE
SWX	-0.34	0.19	0.54	-0.05	0.23	0.5		0.12	SWX
OGE	0.05	0.6	0.6	-0.37	0.76	0.47	0.12		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

NWE	+ 0.9	SR
OGE	+ 0.76	NI
SR	+ 0.73	CPK
NI	+ 0.7	SR
NI	+ 0.64	CPK
NWE	+ 0.62	NI

High negative correlations

UGI	- 0.74	CPK
UGI	- 0.45	SR
SR	- 0.43	NJR
OGE	- 0.37	UGI
NWE	- 0.36	NJR
SWX	- 0.34	NJR

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	0.81	(0.06)	0.00	(0.13)	0.00	0.00	1.50	(1.67)	4.40
CPK	0.90	0.14	0.08	0.43	0.84	(0.99)	2.00	(1.79)	5.53
SR	0.81	0.21	0.17	0.45	0.73	(0.91)	1.90	(1.40)	4.12
UGI	0.80	(0.11)	0.00	(0.06)	0.00	0.00	1.81	(1.44)	5.12
NI	0.90	0.02	(0.03)	0.16	1.28	(0.93)	1.80	(2.13)	6.22
NWE	0.96	0.22	0.15	0.54	0.84	(1.06)	2.72	(1.81)	8.87
SWX	0.89	0.00	(0.06)	0.08	1.15	(0.95)	1.85	(1.72)	6.69
OGE	0.70	(0.02)	0.00	0.35	0.00	0.00	1.22	(1.55)	3.78

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