Star Gas Correlations

SGU Stock

USD 11.75 0.05 0.43%

The current 90-days correlation between Star Gas Partners and Crossamerica Partners LP is 0.14 (i.e., Average diversification). The correlation of Star 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.

Star Gas Correlation With Market

Modest diversification

The correlation between Star Gas Partners and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Star Gas Partners and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Star Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Star Gas Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Star Stock

0.71	SUN	Sunoco LP	Pair Corr
0.73	CAPL	Crossamerica Partners	Pair Corr
0.75	ED	Consolidated Edison	Pair Corr
0.76	FE	FirstEnergy	Pair Corr
0.78	WTRG	Essential Utilities	Pair Corr

Moving against Star Stock

0.81	DINO	HF Sinclair Corp	Pair Corr
0.81	DKL	Delek Logistics Partners	Pair Corr
0.79	PARR	Par Pacific Holdings	Pair Corr
0.78	DK	Delek Energy	Pair Corr
0.77	CVI	CVR Energy	Pair Corr
0.76	MPC	Marathon Petroleum Corp	Pair Corr
0.75	WKC	World Kinect Earnings Call This Week	Pair Corr
0.74	VLO	Valero Energy Earnings Call This Week	Pair Corr
0.7	PSX	Phillips 66	Pair Corr
0.65	ES	Eversource Energy Earnings Call This Week	Pair Corr
0.64	CLNE	Clean Energy Fuels	Pair Corr
0.62	PBF	PBF Energy	Pair Corr
0.59	D	Dominion Energy	Pair Corr
0.44	CMS-PC	CMS Energy Earnings Call This Week	Pair Corr
0.37	HE	Hawaiian Electric	Pair Corr
0.37	NI	NiSource	Pair Corr
0.36	BPT	BP Prudhoe Bay	Pair Corr
0.31	UGP	Ultrapar Participacoes	Pair Corr
0.84	BEP	Brookfield Renewable	Pair Corr
0.75	ENLT	Enlight Renewable Energy	Pair Corr
0.75	CIG	Companhia Energetica	Pair Corr
0.72	AQN	Algonquin Power Utilities	Pair Corr
0.72	BIP	Brookfield Infrastructure	Pair Corr
0.72	CEG	Constellation Energy Corp	Pair Corr
0.66	ELPC	Companhia Paranaense	Pair Corr
0.57	DTW	DTE Energy	Pair Corr
0.41	ELLO	Ellomay Capital	Pair Corr
0.39	RNWWW	ReNew Energy Global	Pair Corr

Related Correlations Analysis

	CSAN	DK	CAPL	PARR	VVV	SPH	GLP	GEL	DMLP
CSAN		-0.18	0.33	-0.25	-0.2	-0.1	0.38	-0.05	0.02	CSAN
DK	-0.18		-0.79	0.98	0.76	-0.82	0.55	0.94	-0.58	DK
CAPL	0.33	-0.79		-0.83	-0.77	0.74	-0.38	-0.79	0.65	CAPL
PARR	-0.25	0.98	-0.83		0.83	-0.8	0.51	0.93	-0.55	PARR
VVV	-0.2	0.76	-0.77	0.83		-0.71	0.53	0.8	-0.42	VVV
SPH	-0.1	-0.82	0.74	-0.8	-0.71		-0.55	-0.86	0.61	SPH
GLP	0.38	0.55	-0.38	0.51	0.53	-0.55		0.65	-0.33	GLP
GEL	-0.05	0.94	-0.79	0.93	0.8	-0.86	0.65		-0.61	GEL
DMLP	0.02	-0.58	0.65	-0.55	-0.42	0.61	-0.33	-0.61		DMLP
	CSAN	DK	CAPL	PARR	VVV	SPH	GLP	GEL	DMLP

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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

PARR	+ 0.98	DK
GEL	+ 0.94	DK
GEL	+ 0.93	PARR
VVV	+ 0.83	PARR
GEL	+ 0.8	VVV
VVV	+ 0.76	DK

High negative correlations

GEL	- 0.86	SPH
PARR	- 0.83	CAPL
SPH	- 0.82	DK
SPH	- 0.8	PARR
GEL	- 0.79	CAPL
CAPL	- 0.79	DK

Risk-Adjusted Indicators

There is a big difference between Star Stock performing well and Star 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 Star 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
CSAN	2.60	(0.02)	0.00	0.17	0.00	0.00	5.16	(4.71)	16.45
DK	2.55	1.19	0.37	(2.29)	1.80	(3.13)	8.37	(3.86)	16.01
CAPL	1.13	(0.09)	0.00	(0.16)	0.00	0.00	2.58	(2.37)	7.11
PARR	2.51	1.40	0.55	3.50	1.44	(3.16)	6.14	(3.47)	15.80
VVV	1.44	(0.05)	(0.02)	0.09	1.73	(1.59)	3.13	(2.65)	11.32
SPH	1.13	(0.19)	0.00	(0.28)	0.00	0.00	2.23	(2.99)	8.16
GLP	1.47	0.07	(0.01)	0.46	1.71	(1.54)	3.81	(3.18)	8.46
GEL	1.51	0.27	0.12	0.59	1.42	(1.72)	3.64	(2.87)	9.07
DMLP	1.04	0.01	0.00	0.10	0.00	0.00	2.21	(2.41)	6.42

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