Crestwood Equity Correlations

Summary

CEQPDelisted Stock

USD 28.26 0.00 0.00%

The correlation of Crestwood Equity 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Crestwood Equity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Crestwood Equity Partners moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Average diversification

The correlation between Crestwood Equity Partners and NYA is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Crestwood Equity Partners and NYA in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in producer price index.

The ability to find closely correlated positions to Crestwood Equity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Crestwood Equity when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Crestwood Equity - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Crestwood Equity Partners to buy it.

Moving together with Crestwood Stock

0.63	BKRKY	Bank Rakyat Earnings Call This Week	Pair Corr
0.65	PPERF	Bank Mandiri Persero	Pair Corr
0.67	PPERY	Bank Mandiri Persero Earnings Call This Week	Pair Corr
0.72	IBM	International Business Earnings Call This Week	Pair Corr
0.69	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.68	TRV	The Travelers Companies Financial Report 18th of July 2024	Pair Corr

Moving against Crestwood Stock

0.67	CSCO	Cisco Systems Fiscal Quarter End 30th of April 2024	Pair Corr
0.42	BA	Boeing Earnings Call This Week	Pair Corr

Related Correlations Analysis

	WES	DTM	MPLX	HEP	MMP	EPD	ET	PAA	HESM	NS
WES		0.9	0.92	-0.64	0.8	0.93	0.95	0.91	0.94	0.56	WES
DTM	0.9		0.86	-0.57	0.8	0.93	0.91	0.96	0.86	0.24	DTM
MPLX	0.92	0.86		-0.57	0.85	0.95	0.97	0.92	0.96	0.62	MPLX
HEP	-0.64	-0.57	-0.57		-0.52	-0.54	-0.55	-0.54	-0.5	-0.29	HEP
MMP	0.8	0.8	0.85	-0.52		0.8	0.86	0.83	0.8	0.48	MMP
EPD	0.93	0.93	0.95	-0.54	0.8		0.97	0.96	0.95	0.45	EPD
ET	0.95	0.91	0.97	-0.55	0.86	0.97		0.95	0.96	0.57	ET
PAA	0.91	0.96	0.92	-0.54	0.83	0.96	0.95		0.89	0.37	PAA
HESM	0.94	0.86	0.96	-0.5	0.8	0.95	0.96	0.89		0.63	HESM
NS	0.56	0.24	0.62	-0.29	0.48	0.45	0.57	0.37	0.63		NS
	WES	DTM	MPLX	HEP	MMP	EPD	ET	PAA	HESM	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

ET	+ 0.97	MPLX
ET	+ 0.97	EPD
PAA	+ 0.96	DTM
HESM	+ 0.96	MPLX
PAA	+ 0.96	EPD
HESM	+ 0.96	ET

High negative correlations

HEP	- 0.64	WES
HEP	- 0.57	MPLX
HEP	- 0.57	DTM
ET	- 0.55	HEP
PAA	- 0.54	HEP
EPD	- 0.54	HEP

Risk-Adjusted Indicators

There is a big difference between Crestwood Stock performing well and Crestwood Equity 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 Crestwood Equity'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
WES	1.12	0.29	0.26	0.30	0.77	(1.33)	2.63	(2.04)	13.68
DTM	0.75	0.23	0.25	0.79	0.37	(0.94)	1.98	(1.06)	5.38
MPLX	0.64	0.11	0.10	0.23	0.63	(0.67)	1.45	(1.25)	3.82
HEP	1.28	(0.07)	0.00	(0.46)	0.00	0.00	2.77	(2.53)	6.62
MMP	0.62	0.25	0.23	(1.67)	0.46	(0.73)	1.59	(1.07)	4.09
EPD	0.51	0.09	0.07	0.25	0.57	(0.55)	1.10	(0.98)	3.15
ET	0.74	0.15	0.17	0.28	0.58	(0.90)	1.97	(1.23)	3.98
PAA	0.93	0.16	0.12	0.24	1.03	(0.96)	1.90	(1.66)	4.56
HESM	0.75	0.11	0.07	0.31	0.90	(0.78)	1.60	(1.41)	5.81
NS	1.35	0.20	0.14	0.23	1.30	(1.67)	2.04	(1.91)	22.28

Crestwood Equity Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Crestwood Equity stock to make a market-neutral strategy. Peer analysis of Crestwood Equity could also be used in its relative valuation, which is a method of valuing Crestwood Equity by comparing valuation metrics with similar companies.

Western Midstream Partners DT Midstream MPLX LP Holly Energy Partners Magellan Midstream Partners Enterprise Products Partners Energy Transfer LP Plains All American Hess Midstream Partners NuStar Energy LP Equitrans Midstream Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co

Risk & Return

Correlation

Crestwood Equity Corporate Directors

Crestwood Equity corporate directors refer to members of a Crestwood Equity board of directors. The board of directors generally takes responsibility for the Crestwood Equity's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Crestwood Equity's board members must vote for the resolution. The Crestwood Equity board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.

Alvin Bledsoe	Independent Director of the General Partner	Profile
John Sherman	Independent Director of the General Partner	Profile
Warren Gfeller	Lead Independent Director of the General Partner	Profile
David Lumpkins	Independent Director of the General Partner	Profile

Still Interested in Crestwood Equity Partners?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.

Other Consideration for investing in Crestwood Stock

If you are still planning to invest in Crestwood Equity Partners check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Crestwood Equity's history and understand the potential risks before investing.

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