Williams Companies Correlations

WMB Stock

USD 57.71 0.35 0.61%

The current 90-days correlation between Williams Companies and Kinder Morgan is 0.84 (i.e., Very poor diversification). The correlation of Williams Companies 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.

Williams Companies Correlation With Market

Modest diversification

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

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Williams Companies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For information on how to trade Williams Stock refer to our How to Trade Williams Stock guide.

Moving together with Williams Stock

0.73	DTM	DT Midstream	Pair Corr
0.65	KMI	Kinder Morgan	Pair Corr
0.63	LNG	Cheniere Energy	Pair Corr

Moving against Williams Stock

0.33	SMC	Summit Midstream Symbol Change	Pair Corr
0.43	DLNG-PB	Dynagas LNG Partners	Pair Corr
0.31	KNOP	KNOT Offshore Partners	Pair Corr
0.31	DLNG-PA	Dynagas LNG Partners	Pair Corr

Related Correlations Analysis

	KMI	OKE	MPLX	EPD	DVN	EOG
KMI		-0.19	0.54	0.51	0.33	0.42	KMI
OKE	-0.19		0.22	0.24	0.15	-0.08	OKE
MPLX	0.54	0.22		0.54	0.43	0.48	MPLX
EPD	0.51	0.24	0.54		0.69	0.49	EPD
DVN	0.33	0.15	0.43	0.69		0.86	DVN
EOG	0.42	-0.08	0.48	0.49	0.86		EOG
	KMI	OKE	MPLX	EPD	DVN	EOG

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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

EOG	+ 0.86	DVN
DVN	+ 0.69	EPD
MPLX	+ 0.54	KMI
EPD	+ 0.54	MPLX
EPD	+ 0.51	KMI
EOG	+ 0.49	EPD

High negative correlations

OKE	- 0.19	KMI
EOG	- 0.08	OKE

Risk-Adjusted Indicators

There is a big difference between Williams Stock performing well and Williams Companies 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 Williams Companies' 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
KMI	1.01	(0.12)	(0.13)	0.00	1.48	(1.08)	2.02	(2.30)	6.78
OKE	1.34	(0.24)	0.00	(0.06)	0.00	0.00	2.54	(3.27)	9.21
MPLX	0.83	(0.07)	(0.16)	0.07	1.00	(0.87)	2.20	(1.67)	5.24
EPD	0.84	(0.07)	(0.14)	0.08	1.06	(0.87)	1.53	(1.62)	4.19
DVN	1.77	0.03	(0.02)	0.24	1.64	(2.12)	3.24	(2.76)	10.10
EOG	1.24	0.06	(0.06)	0.42	1.26	(1.42)	2.72	(2.30)	6.76

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