Summit Midstream Correlations

SMC Stock

21.96 0.04 0.18%

The current 90-days correlation between Summit Midstream and PrimeEnergy is 0.23 (i.e., Modest diversification). The correlation of Summit Midstream 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.

Summit Midstream Correlation With Market

Modest diversification

The correlation between Summit Midstream and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Summit Midstream and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Summit Stock

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

For information on how to trade Summit Stock refer to our How to Trade Summit Stock guide.

Moving against Summit Stock

0.37	ALA	AltaGas	Pair Corr
0.34	ENB	Enbridge Earnings Call This Week	Pair Corr
0.44	605090	Jiangxi Jovo Energy	Pair Corr
0.4	TRP	TC Energy Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PNRG	BRY	HUSA	RNGR	REI	AMTX	BOOM	GEOS	TOYO	FET
PNRG		0.31	0.23	0.04	-0.02	0.15	-0.04	-0.42	-0.23	-0.31	PNRG
BRY	0.31		-0.69	0.62	0.75	-0.18	0.61	0.38	0.41	0.57	BRY
HUSA	0.23	-0.69		-0.32	-0.63	0.08	-0.66	-0.74	-0.83	-0.84	HUSA
RNGR	0.04	0.62	-0.32		0.61	-0.54	0.37	0.12	-0.04	0.53	RNGR
REI	-0.02	0.75	-0.63	0.61		-0.14	0.34	0.39	0.33	0.67	REI
AMTX	0.15	-0.18	0.08	-0.54	-0.14		-0.1	0.18	0.32	-0.24	AMTX
BOOM	-0.04	0.61	-0.66	0.37	0.34	-0.1		0.63	0.56	0.51	BOOM
GEOS	-0.42	0.38	-0.74	0.12	0.39	0.18	0.63		0.8	0.7	GEOS
TOYO	-0.23	0.41	-0.83	-0.04	0.33	0.32	0.56	0.8		0.63	TOYO
FET	-0.31	0.57	-0.84	0.53	0.67	-0.24	0.51	0.7	0.63		FET
	PNRG	BRY	HUSA	RNGR	REI	AMTX	BOOM	GEOS	TOYO	FET

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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

TOYO	+ 0.8	GEOS
REI	+ 0.75	BRY
FET	+ 0.7	GEOS
FET	+ 0.67	REI
GEOS	+ 0.63	BOOM
FET	+ 0.63	TOYO

High negative correlations

FET	- 0.84	HUSA
TOYO	- 0.83	HUSA
GEOS	- 0.74	HUSA
HUSA	- 0.69	BRY
BOOM	- 0.66	HUSA
REI	- 0.63	HUSA

Risk-Adjusted Indicators

There is a big difference between Summit Stock performing well and Summit Midstream 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 Summit Midstream'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PNRG	2.94	(0.48)	0.00	(0.13)	0.00	0.00	4.73	(7.02)	19.60
BRY	2.07	0.11	0.04	0.20	2.46	(2.37)	3.81	(4.74)	26.58
HUSA	3.51	(0.64)	0.00	34.84	0.00	0.00	7.68	(7.47)	23.21
RNGR	1.92	(0.06)	(0.02)	0.05	2.46	(1.89)	4.25	(3.80)	9.77
REI	3.12	0.27	0.07	0.30	3.61	(3.86)	6.82	(7.55)	23.31
AMTX	3.89	(0.58)	0.00	(0.08)	0.00	0.00	10.94	(6.61)	26.37
BOOM	2.92	(0.13)	(0.01)	0.04	4.91	(2.84)	6.18	(5.49)	24.62
GEOS	4.08	0.44	0.13	0.23	4.97	(4.43)	10.24	(7.21)	27.37
TOYO	3.48	0.66	0.08	(0.39)	4.63	(3.70)	7.58	(5.35)	20.70
FET	2.63	0.32	0.11	0.26	3.64	(2.80)	6.13	(3.96)	26.85

Summit Midstream Corporate Management

James Johnston	General VP	Profile
Carrie Vruno	VP Controller	Profile
Hugo Guerrero	Senior Operations	Profile
Randall Burton	Treasurer Finance	Profile
Matthew Sicinski	Senior Officer	Profile

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