Oneok Correlations

OKE
 Stock
  

USD 56.82  0.50  0.89%   

The correlation of Oneok is a statistical measure of how it moves in relation to other equities. 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 Oneok moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Oneok Inc 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.
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The ability to find closely correlated positions to Oneok could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oneok 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 Oneok - 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 Oneok Inc to buy it.

Moving together with Oneok

+0.71ENBEnbridgePairCorr
+0.95EPDEnterprise ProductsPairCorr
+0.93WMBWilliams CompaniesPairCorr
+0.7VRMVroom Inc Normal TradingPairCorr
+0.75AMZNAmazon IncPairCorr

Related Correlations

SUN
RBSFY
VLO
JXHGF
CLNE
SUN
0.450.65-0.140.64
SUN
RBSFY
0.450.30.20.43
RBSFY
VLO
0.650.30.270.68
VLO
JXHGF
-0.140.20.270.35
JXHGF
CLNE
0.640.430.680.35
CLNE
SUN
RBSFY
VLO
JXHGF
CLNE
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
CLNEVLO
VLOSUN
CLNESUN
RBSFYSUN
CLNERBSFY
CLNEJXHGF
  
High negative correlations   
JXHGFSUN

Oneok Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Oneok Stock performing well and Oneok 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 Oneok'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Oneok without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Oneok Corporate Directors

Oneok corporate directors refer to members of an Oneok board of directors. The board of directors generally takes responsibility for the Oneok'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 Oneok's board members must vote for the resolution. The Oneok board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Brian Derksen - Independent DirectorProfile
Gerald Smith - Independent DirectorProfile
Randall Larson - Independent DirectorProfile
Julie Edwards - Lead Independent DirectorProfile

Invested in Oneok Inc?

The danger of trading Oneok Inc is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Oneok is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Oneok. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Oneok Inc is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please check Your Equity Center. You can also try Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.

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When running Oneok Inc price analysis, check to measure Oneok's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Oneok is operating at the current time. Most of Oneok's value examination focuses on studying past and present price action to predict the probability of Oneok's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Oneok's price. Additionally, you may evaluate how the addition of Oneok to your portfolios can decrease your overall portfolio volatility.
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Is Oneok's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Oneok. If investors know Oneok will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Oneok listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Oneok Inc is measured differently than its book value, which is the value of Oneok that is recorded on the company's balance sheet. Investors also form their own opinion of Oneok's value that differs from its market value or its book value, called intrinsic value, which is Oneok'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 Oneok's market value can be influenced by many factors that don't directly affect Oneok's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Oneok's value and its price as these two are different measures arrived at by different means. Investors typically determine Oneok value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Oneok'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.