One Gas Correlations

OGS Stock

USD 80.37 0.42 0.53%

The current 90-days correlation between One Gas and NewJersey Resources is 0.78 (i.e., Poor diversification). The correlation of One Gas 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.

One Gas Correlation With Market

Very weak diversification

The correlation between One Gas and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding One Gas and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with One Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in One Gas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more information on how to buy One Stock please use our How to Invest in One Gas guide.

Moving together with One Stock

0.92	CPK	Chesapeake Utilities	Pair Corr
0.69	NFG	National Fuel Gas	Pair Corr
0.88	NWN	Northwest Natural Gas	Pair Corr
0.64	SOJE	Southern Company	Pair Corr
0.64	SOJC	Southern	Pair Corr
0.71	TLN	Talen Energy	Pair Corr
0.9	CMSA	CMS Energy Corp	Pair Corr
0.77	CNL	Collective Mining	Pair Corr
0.61	EC	Ecopetrol SA ADR	Pair Corr
0.8	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.63	HYMTF	Hyundai Motor	Pair Corr
0.75	BMEZ	BlackRock Health Sciences	Pair Corr
0.79	WAFU	Wah Fu Education	Pair Corr
0.67	SSVFF	Southern Silver Expl	Pair Corr
0.61	HD	Home Depot	Pair Corr

Moving against One Stock

0.78	UGI	UGI Corporation	Pair Corr
0.75	VFSWW	VinFast Auto	Pair Corr
0.66	VFS	VinFast Auto	Pair Corr

Related Correlations Analysis

	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE
NJR		0.7	0.72	-0.53	0.58	0.83	0.58	0.52	NJR
CPK	0.7		0.93	-0.79	0.43	0.69	0.28	0.45	CPK
SR	0.72	0.93		-0.64	0.57	0.64	0.39	0.59	SR
UGI	-0.53	-0.79	-0.64		-0.17	-0.76	-0.28	-0.03	UGI
NI	0.58	0.43	0.57	-0.17		0.51	0.42	0.88	NI
NWE	0.83	0.69	0.64	-0.76	0.51		0.52	0.36	NWE
SWX	0.58	0.28	0.39	-0.28	0.42	0.52		0.3	SWX
OGE	0.52	0.45	0.59	-0.03	0.88	0.36	0.3		OGE
	NJR	CPK	SR	UGI	NI	NWE	SWX	OGE

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

SR	+ 0.93	CPK
OGE	+ 0.88	NI
NWE	+ 0.83	NJR
SR	+ 0.72	NJR
CPK	+ 0.7	NJR
NWE	+ 0.69	CPK

High negative correlations

UGI	- 0.79	CPK
NWE	- 0.76	UGI
UGI	- 0.64	SR
UGI	- 0.53	NJR
SWX	- 0.28	UGI
NI	- 0.17	UGI

Risk-Adjusted Indicators

There is a big difference between One Stock performing well and One Gas 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 One Gas' 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
NJR	0.73	0.03	(0.01)	0.14	0.93	(0.70)	1.50	(1.55)	4.31
CPK	0.76	0.15	0.14	0.26	0.63	(0.86)	1.77	(1.56)	4.24
SR	0.81	0.15	0.10	0.30	0.96	(0.87)	1.90	(1.50)	5.76
UGI	0.86	(0.17)	0.00	(0.16)	0.00	0.00	1.81	(1.88)	5.44
NI	0.97	0.14	0.06	0.59	1.35	(0.98)	1.95	(2.15)	6.91
NWE	0.87	0.16	0.13	0.31	0.85	(0.94)	2.08	(1.81)	8.87
SWX	0.81	0.09	0.06	0.25	0.81	(0.91)	2.15	(1.68)	4.50
OGE	0.77	0.05	0.01	0.19	0.81	(0.85)	1.43	(1.55)	3.20

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