Kinder Morgan Correlations

Stocks . USA . 
Stock . Kinder Morgan
KMI Stock  USD 27.22  0.66  2.37%   
The current 90-days correlation between Kinder Morgan and Williams Companies is 0.83 (i.e., Very poor diversification). The correlation of Kinder Morgan 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.

Kinder Morgan Correlation With Market

Weak diversification

The correlation between Kinder Morgan and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinder Morgan and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Kinder Stock
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kinder Morgan. 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 more detail on how to invest in Kinder Stock please use our How to Invest in Kinder Morgan guide.

Moving together with Kinder Stock

  0.81AM Antero Midstream PartnersPairCorr
  0.71ET Energy Transfer LPPairCorr
  0.77TK TeekayPairCorr
  0.68DLNG Dynagas LNG PartnersPairCorr
  0.69IMPPP Imperial PetroleumPairCorr
  0.92DTM DT MidstreamPairCorr
  0.8GEL Genesis Energy LPPairCorr
  0.71LNG Cheniere EnergyPairCorr
  0.64NGL NGL Energy PartnersPairCorr
  0.73PBT Permian Basin RoyaltyPairCorr
  0.65GLOP-PB GasLog Partners LPPairCorr
  0.63GLOP-PA GasLog Partners LPPairCorr
  0.72GLOP-PC GasLog Partners LPPairCorr
  0.72TEN Tsakos Energy NavigationPairCorr
  0.66WMB Williams CompaniesPairCorr
  0.69INSW International SeawaysPairCorr
  0.73SEAL-PB Seapeak LLCPairCorr
  0.62SEAL-PA Seapeak LLCPairCorr

Moving against Kinder Stock

  0.64SMC Summit Midstream Symbol ChangePairCorr
  0.32CQP Cheniere Energy PartnersPairCorr
  0.32BANL CBL InternationalPairCorr

Related Correlations Analysis

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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   
ET
+ 0.83
EPD
PSX
+ 0.81
EPD
PSX
+ 0.73
ET
COP
+ 0.7
PSX
COP
+ 0.5
EPD
COP
+ 0.4
ET
  
High negative correlations   
OKE
- 0.21
WMB
COP
- 0.19
ENB
PSX
- 0.13
OKE
PSX
- 0.08
ENB
ENB
- 0.06
OKE
COP
- 0.02
WMB

Risk-Adjusted Indicators

There is a big difference between Kinder Stock performing well and Kinder Morgan 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 Kinder Morgan's 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.

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