Antero Midstream Correlations

AM Stock

USD 17.80 0.07 0.39%

The current 90-days correlation between Antero Midstream Partners and Hess Midstream Partners is 0.56 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Antero Midstream moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Antero Midstream Partners moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Antero Midstream Correlation With Market

Average diversification

The correlation between Antero Midstream Partners and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Antero Midstream Partners and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Antero Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Antero Midstream 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 industry.

Moving together with Antero Stock

0.7	ENB	Enbridge	Pair Corr
0.82	KEY	Keyera Corp	Pair Corr
0.78	ENB	Enbridge	Pair Corr
0.7	GLP	Global Partners LP	Pair Corr
0.81	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.62	KYN	Kayne Anderson MLP	Pair Corr
0.63	LNG	Cheniere Energy	Pair Corr
0.86	PBA	Pembina Pipeline Corp	Pair Corr
0.67	UFG	Uni Fuels Holdings	Pair Corr

Moving against Antero Stock

0.59	TK	Teekay	Pair Corr
0.59	SRR	Source Rock Royalties	Pair Corr
0.52	ETP	Energy Transfer Partners	Pair Corr
0.49	DHT	DHT Holdings	Pair Corr
0.62	NAT	Nordic American Tankers	Pair Corr
0.6	TGS	Transportadora de Gas	Pair Corr
0.56	SUN	Sunoco LP	Pair Corr
0.41	TEN	Tsakos Energy Navigation	Pair Corr
0.37	NGL	NGL Energy Partners	Pair Corr
0.31	FRO	Frontline	Pair Corr
0.73	ET-PI	Energy Transfer LP	Pair Corr
0.63	TNK	Teekay Tankers	Pair Corr
0.46	INSW	International Seaways	Pair Corr
0.35	KNOP	KNOT Offshore Partners	Pair Corr

Related Correlations Analysis

	HESM	RRC	APA	AR	PR	NFG	OVV	DTM	SOBO	PAA
HESM		-0.13	0.6	0.58	0.62	0.01	0.54	0.58	0.22	0.8	HESM
RRC	-0.13		0.44	0.51	0.16	0.21	0.55	0.12	0.25	-0.03	RRC
APA	0.6	0.44		0.89	0.83	0.02	0.8	0.73	0.48	0.72	APA
AR	0.58	0.51	0.89		0.85	-0.03	0.79	0.76	0.43	0.71	AR
PR	0.62	0.16	0.83	0.85		-0.23	0.66	0.87	0.38	0.9	PR
NFG	0.01	0.21	0.02	-0.03	-0.23		0.39	-0.15	0.57	-0.17	NFG
OVV	0.54	0.55	0.8	0.79	0.66	0.39		0.53	0.56	0.59	OVV
DTM	0.58	0.12	0.73	0.76	0.87	-0.15	0.53		0.52	0.81	DTM
SOBO	0.22	0.25	0.48	0.43	0.38	0.57	0.56	0.52		0.37	SOBO
PAA	0.8	-0.03	0.72	0.71	0.9	-0.17	0.59	0.81	0.37		PAA
	HESM	RRC	APA	AR	PR	NFG	OVV	DTM	SOBO	PAA

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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

PAA	+ 0.9	PR
AR	+ 0.89	APA
DTM	+ 0.87	PR
PR	+ 0.85	AR
PR	+ 0.83	APA
PAA	+ 0.81	DTM

High negative correlations

NFG	- 0.23	PR
PAA	- 0.17	NFG
DTM	- 0.15	NFG
RRC	- 0.13	HESM
NFG	- 0.03	AR
PAA	- 0.03	RRC

Risk-Adjusted Indicators

There is a big difference between Antero Stock performing well and Antero 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 Antero 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
HESM	0.93	(0.04)	(0.06)	(0.01)	1.32	(0.88)	1.77	(1.99)	4.65
RRC	1.80	(0.11)	0.00	(0.05)	0.00	0.00	3.46	(3.94)	11.26
APA	2.08	(0.01)	(0.02)	0.06	2.52	(2.33)	4.01	(3.82)	14.33
AR	2.01	(0.05)	(0.02)	0.03	2.46	(2.18)	3.99	(4.65)	12.23
PR	1.56	0.01	(0.02)	0.11	2.09	(1.51)	3.63	(3.31)	9.61
NFG	0.91	(0.20)	0.00	(1.62)	0.00	0.00	1.64	(1.78)	6.63
OVV	1.64	(0.19)	0.00	(0.32)	0.00	0.00	3.64	(4.40)	8.88
DTM	0.99	0.10	0.05	0.29	1.05	(1.10)	2.13	(1.87)	5.03
SOBO	1.10	(0.02)	(0.05)	0.03	1.26	(1.23)	2.30	(2.06)	8.31
PAA	0.77	(0.01)	(0.06)	0.05	0.95	(0.80)	1.84	(1.62)	4.09

Antero Midstream Corporate Management

Alvyn Schopp	Chief Admin. Officer of Antero Resources Midstream Management LLC, Regional VP of Antero Resources Midstream Management LLC and Treasurer Antero Resources Midstream Management LLC	Profile
Janine McArdle	Independent Director	Profile
David Cannelongo	Senior Transportation	Profile
Robert Krcek	Senior Midstream	Profile
Peter Dea	Independent Director	Profile

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