Phillips Correlations

PSX Stock

USD 122.17 0.67 0.55%

The current 90-days correlation between Phillips 66 and Marathon Petroleum Corp is 0.81 (i.e., Very poor diversification). The correlation of Phillips 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.

Phillips Correlation With Market

Very weak diversification

The correlation between Phillips 66 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 Phillips 66 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Phillips Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Phillips 66. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Phillips Stock

0.76	DINO	HF Sinclair Corp	Pair Corr
0.83	DK	Delek Energy	Pair Corr
0.9	CVI	CVR Energy Sell-off Trend	Pair Corr
0.62	DKL	Delek Logistics Partners	Pair Corr
0.88	MPC	Marathon Petroleum Corp	Pair Corr
0.93	PBF	PBF Energy	Pair Corr
0.95	VLO	Valero Energy	Pair Corr
0.82	PARR	Par Pacific Holdings	Pair Corr
0.77	AMTX	Aemetis	Pair Corr
0.66	CLNE	Clean Energy Fuels	Pair Corr
0.63	E	Eni SpA ADR	Pair Corr
0.66	NE	Noble plc	Pair Corr
0.64	PR	Permian Resources	Pair Corr
0.75	SM	SM Energy	Pair Corr
0.68	SU	Suncor Energy	Pair Corr
0.77	TS	Tenaris SA ADR	Pair Corr

Moving against Phillips Stock

0.71	AM	Antero Midstream Partners	Pair Corr
0.52	PTLE	PTL LTD Ordinary	Pair Corr
0.51	CSAN	Cosan SA ADR	Pair Corr
0.38	EE	Excelerate Energy	Pair Corr
0.36	CAPL	Crossamerica Partners	Pair Corr
0.53	ANNAW	AleAnna, Warrant	Pair Corr
0.5	LB	LandBridge Company	Pair Corr
0.44	VNOM	Viper Energy Ut	Pair Corr
0.33	DLNG	Dynagas LNG Partners	Pair Corr
0.31	VIST	Vista Oil Gas	Pair Corr

Related Correlations Analysis

	MPC	DINO	PBF	SUN	VLO	CVI	DK	DKL	CAPL
MPC		0.67	0.85	-0.25	0.95	0.9	0.88	0.57	-0.38	MPC
DINO	0.67		0.82	-0.49	0.79	0.81	0.81	0.85	-0.68	DINO
PBF	0.85	0.82		-0.24	0.95	0.91	0.9	0.65	-0.45	PBF
SUN	-0.25	-0.49	-0.24		-0.33	-0.43	-0.44	-0.44	0.72	SUN
VLO	0.95	0.79	0.95	-0.33		0.95	0.94	0.63	-0.46	VLO
CVI	0.9	0.81	0.91	-0.43	0.95		0.93	0.67	-0.59	CVI
DK	0.88	0.81	0.9	-0.44	0.94	0.93		0.69	-0.57	DK
DKL	0.57	0.85	0.65	-0.44	0.63	0.67	0.69		-0.61	DKL
CAPL	-0.38	-0.68	-0.45	0.72	-0.46	-0.59	-0.57	-0.61		CAPL
	MPC	DINO	PBF	SUN	VLO	CVI	DK	DKL	CAPL

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

VLO	+ 0.95	MPC
VLO	+ 0.95	PBF
CVI	+ 0.95	VLO
DK	+ 0.94	VLO
DK	+ 0.93	CVI
CVI	+ 0.91	PBF

High negative correlations

CAPL	- 0.68	DINO
CAPL	- 0.61	DKL
CAPL	- 0.59	CVI
CAPL	- 0.57	DK
SUN	- 0.49	DINO
CAPL	- 0.46	VLO

Risk-Adjusted Indicators

There is a big difference between Phillips Stock performing well and Phillips 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 Phillips' 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
MPC	1.14	(0.06)	(0.04)	0.00	1.84	(0.95)	2.02	(2.74)	6.49
DINO	1.55	0.33	0.11	(1.03)	1.68	(1.67)	3.44	(3.23)	8.52
PBF	3.10	0.04	0.02	0.11	4.06	(3.09)	7.05	(7.11)	16.52
SUN	1.30	(0.18)	0.00	(0.17)	0.00	0.00	2.56	(2.65)	6.55
VLO	1.46	(0.01)	(0.01)	0.07	1.97	(1.49)	2.91	(3.37)	8.73
CVI	2.12	0.11	0.04	0.21	2.45	(2.45)	4.97	(4.22)	13.75
DK	2.46	0.29	0.09	0.32	2.87	(2.85)	6.48	(4.90)	18.12
DKL	0.95	0.08	0.03	0.27	1.26	(0.99)	2.27	(2.44)	6.41
CAPL	0.97	(0.20)	0.00	(0.55)	0.00	0.00	2.13	(2.43)	7.59

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