Phillips Correlations

PSX Stock

USD 98.81 8.37 7.81%

The current 90-days correlation between Phillips 66 and Marathon Petroleum Corp is 0.9 (i.e., Almost no 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

Poor diversification

The correlation between Phillips 66 and DJI is 0.7 (i.e., Poor 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.

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 state.

Moving together with Phillips Stock

0.81	IEP	Icahn Enterprises	Pair Corr
0.61	MPC	Marathon Petroleum Corp	Pair Corr
0.61	SGU	Star Gas Partners	Pair Corr
0.76	SUN	Sunoco LP	Pair Corr
0.67	WKC	World Kinect	Pair Corr
0.83	BP	BP PLC ADR	Pair Corr
0.73	EC	Ecopetrol SA ADR	Pair Corr

Moving against Phillips Stock

0.41	PTLE	PTL LTD Ordinary	Pair Corr
0.37	HP	Helmerich and Payne	Pair Corr
0.53	DLNG	Dynagas LNG Partners	Pair Corr
0.43	VIVK	Vivakor	Pair Corr
0.35	EFXT	Enerflex	Pair Corr

Related Correlations Analysis

	MPC	DINO	PBF	SUN	VLO	CVI	DK	DKL	CAPL
MPC		0.86	0.45	0.3	0.92	0.6	0.61	0.4	-0.12	MPC
DINO	0.86		0.75	-0.11	0.77	0.44	0.83	0.16	-0.49	DINO
PBF	0.45	0.75		-0.52	0.51	0.32	0.89	0.15	-0.79	PBF
SUN	0.3	-0.11	-0.52		0.34	0.06	-0.47	0.24	0.7	SUN
VLO	0.92	0.77	0.51	0.34		0.66	0.57	0.53	-0.09	VLO
CVI	0.6	0.44	0.32	0.06	0.66		0.43	0.55	-0.03	CVI
DK	0.61	0.83	0.89	-0.47	0.57	0.43		0.27	-0.65	DK
DKL	0.4	0.16	0.15	0.24	0.53	0.55	0.27		0.26	DKL
CAPL	-0.12	-0.49	-0.79	0.7	-0.09	-0.03	-0.65	0.26		CAPL
	MPC	DINO	PBF	SUN	VLO	CVI	DK	DKL	CAPL

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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

VLO	+ 0.92	MPC
DK	+ 0.89	PBF
DINO	+ 0.86	MPC
DK	+ 0.83	DINO
VLO	+ 0.77	DINO
PBF	+ 0.75	DINO

High negative correlations

CAPL	- 0.79	PBF
CAPL	- 0.65	DK
SUN	- 0.52	PBF
CAPL	- 0.49	DINO
DK	- 0.47	SUN
CAPL	- 0.12	MPC

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	1.91	0.09	0.00	(0.10)	0.00	0.00	3.27	(3.92)	19.80
DINO	2.05	(0.04)	0.00	(0.19)	0.00	0.00	3.90	(5.46)	19.66
PBF	2.98	(0.44)	0.00	(0.42)	0.00	0.00	5.31	(7.37)	24.08
SUN	1.11	0.21	0.11	0.11	1.90	(0.98)	2.39	(2.31)	6.12
VLO	2.03	0.08	0.00	(0.11)	0.00	0.00	3.48	(4.45)	19.47
CVI	2.55	0.01	0.00	(0.15)	0.00	0.00	5.07	(4.40)	16.20
DK	2.78	(0.25)	0.00	(0.33)	0.00	0.00	4.84	(6.35)	24.53
DKL	1.14	0.12	0.09	(0.01)	1.65	(1.18)	2.92	(2.14)	6.55
CAPL	0.92	0.16	0.10	0.14	2.22	(0.81)	1.69	(1.63)	4.68

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