Energy Transfer Related Correlations

ET -  USA Stock  

USD 9.10  0.04  0.44%

Generate correlation matrix for Energy Transfer and other related equities to check the degree to which Energy Transfer LP price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Energy Transfer LP. To filter out specific equities, please toggle its corresponding legend item. Continue to Investing Opportunities.
The market value of Energy Transfer LP is measured differently than its book value, which is the value of Energy that is recorded on the company's balance sheet. Investors also form their own opinion of Energy Transfer's value that differs from its market value or its book value, called intrinsic value, which is Energy Transfer's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Energy Transfer's market value can be influenced by many factors that don't directly affect Energy Transfer LP underlying business (such as pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Energy Transfer's value and its price as these two are different measures arrived at by different means. Investors typically determine Energy Transfer value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Energy Transfer's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
Insignificant correlation   
High negative correlations   

Energy Transfer Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Energy Transfer stock performing well and Energy Transfer company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Energy Transfer's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.