| MPLX Stock | | | USD 50.80 0.28 0.55% |
The current 90-days correlation between MPLX LP and Enterprise Products Partners is -0.05 (i.e., Good diversification). The correlation of MPLX LP 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.
MPLX LP Correlation With Market
Weak diversification
The correlation between MPLX LP and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MPLX LP and DJI in the same portfolio, assuming nothing else is changed.
Check out
Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MPLX LP. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in bureau of economic analysis.
For more information on how to buy MPLX Stock please use our
How to Invest in MPLX LP guide.