Kinetik Holdings Correlations

KNTK Stock

USD 42.89 0.08 0.19%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kinetik Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kinetik Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Kinetik Holdings Correlation With Market

Poor diversification

The correlation between Kinetik Holdings and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinetik Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Kinetik Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kinetik Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Kinetik Stock please use our How to buy in Kinetik Stock guide.

Moving together with Kinetik Stock

0.76	ET	Energy Transfer LP	Pair Corr
0.83	DLNG	Dynagas LNG Partners	Pair Corr
0.79	VNOM	Viper Energy Ut	Pair Corr
0.81	PXSAW	Pyxis Tankers	Pair Corr
0.72	CQP	Cheniere Energy Partners	Pair Corr
0.87	EPD	Enterprise Products	Pair Corr
0.64	NFE	New Fortress Energy	Pair Corr
0.8	NGL	NGL Energy Partners	Pair Corr
0.92	OKE	ONEOK Inc	Pair Corr
0.86	PAA	Plains All American	Pair Corr
0.62	PBA	Pembina Pipeline Corp	Pair Corr
0.71	PXS	Pyxis Tankers	Pair Corr
0.83	SMC	Summit Midstream Symbol Change	Pair Corr
0.85	WES	Western Midstream	Pair Corr

Related Correlations Analysis

	CEQP	WES	DTM	MPLX	HEP	HESM	ENLC	DCP	PAA	NS
CEQP		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CEQP
WES	0.0		0.35	0.9	0.0	0.93	-0.3	0.0	0.82	0.0	WES
DTM	0.0	0.35		0.51	0.0	0.23	-0.58	0.0	-0.03	0.0	DTM
MPLX	0.0	0.9	0.51		0.0	0.87	-0.25	0.0	0.77	0.0	MPLX
HEP	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HEP
HESM	0.0	0.93	0.23	0.87	0.0		-0.2	0.0	0.93	0.0	HESM
ENLC	0.0	-0.3	-0.58	-0.25	0.0	-0.2		0.0	0.07	0.0	ENLC
DCP	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	DCP
PAA	0.0	0.82	-0.03	0.77	0.0	0.93	0.07	0.0		0.0	PAA
NS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		NS
	CEQP	WES	DTM	MPLX	HEP	HESM	ENLC	DCP	PAA	NS

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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

HESM	+ 0.93	WES
PAA	+ 0.93	HESM
MPLX	+ 0.9	WES
HESM	+ 0.87	MPLX
PAA	+ 0.82	WES
PAA	+ 0.77	MPLX

High negative correlations

ENLC	- 0.58	DTM
ENLC	- 0.3	WES
ENLC	- 0.25	MPLX
ENLC	- 0.2	HESM
PAA	- 0.03	DTM
NS	- 0.0	PAA

Risk-Adjusted Indicators

There is a big difference between Kinetik Stock performing well and Kinetik Holdings 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 Kinetik Holdings' 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
CEQP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WES	1.44	(0.10)	0.00	(0.12)	0.00	0.00	3.02	(3.23)	9.35
DTM	1.44	0.14	0.06	0.18	2.08	(1.47)	2.99	(3.22)	11.94
MPLX	1.11	(0.07)	0.00	(0.09)	0.00	0.00	2.86	(2.61)	7.76
HEP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HESM	1.46	(0.14)	0.00	(0.15)	0.00	0.00	2.66	(3.47)	11.10
ENLC	1.09	(0.05)	0.00	(0.97)	0.00	0.00	1.99	(3.17)	6.59
DCP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PAA	1.68	(0.09)	0.00	(0.07)	0.00	0.00	3.01	(3.50)	11.11
NS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Kinetik Holdings Corporate Management

Steven Stellato	Chief VP	Profile
Lindsay Ellis	Corporate Secretary	Profile
Maddie Wagner	Director Relations	Profile
Todd Carpenter	Assistant Counsel	Profile

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