Consol Energy Correlations

CEIX Stock

USD 131.39 1.16 0.88%

The current 90-days correlation between Consol Energy and Alliance Resource Partners is 0.33 (i.e., Weak diversification). The correlation of Consol Energy 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Consol Energy Correlation With Market

Poor diversification

The correlation between Consol Energy and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consol Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Consol Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy Consol Stock please use our How to Invest in Consol Energy guide.

Moving together with Consol Stock

0.88	NC	NACCO Industries	Pair Corr
0.81	BTU	Peabody Energy Corp	Pair Corr
0.9	NRP	Natural Resource Partners	Pair Corr
0.89	HNRG	Hallador Energy	Pair Corr
0.95	ARLP	Alliance Resource Fiscal Year End 3rd of February 2025	Pair Corr
0.86	AE	Adams Resources Energy	Pair Corr
0.78	AM	Antero Midstream Partners	Pair Corr
0.81	AR	Antero Resources Corp Potential Growth	Pair Corr
0.95	EE	Excelerate Energy	Pair Corr
0.76	EP	Empire Petroleum Corp	Pair Corr
0.9	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.73	HP	Helmerich and Payne	Pair Corr
0.82	PR	Permian Resources	Pair Corr
0.98	TS	Tenaris SA ADR	Pair Corr
0.82	DLNG	Dynagas LNG Partners Earnings Call Tomorrow	Pair Corr
0.92	DMLP	Dorchester Minerals	Pair Corr
0.86	VNOM	Viper Energy Ut	Pair Corr
0.92	EFXT	Enerflex	Pair Corr
0.87	ENLC	EnLink Midstream LLC	Pair Corr

Moving against Consol Stock

0.74	EC	Ecopetrol SA ADR	Pair Corr
0.73	BP	BP PLC ADR	Pair Corr
0.64	E	Eni SpA ADR	Pair Corr
0.63	DINO	HF Sinclair Corp	Pair Corr
0.62	BROGW	Brooge Energy Limited	Pair Corr
0.4	TK	Teekay	Pair Corr
0.38	ENSV	Enservco	Pair Corr
0.32	SD	SandRidge Energy	Pair Corr

Related Correlations Analysis

	ARLP	NRP	HNRG	NC	BTU	ITAYY	ADOOY
ARLP		0.87	0.91	0.86	0.79	-0.54	-0.1	ARLP
NRP	0.87		0.89	0.72	0.86	-0.49	0.2	NRP
HNRG	0.91	0.89		0.7	0.81	-0.42	-0.06	HNRG
NC	0.86	0.72	0.7		0.75	-0.69	-0.16	NC
BTU	0.79	0.86	0.81	0.75		-0.55	0.11	BTU
ITAYY	-0.54	-0.49	-0.42	-0.69	-0.55		0.0	ITAYY
ADOOY	-0.1	0.2	-0.06	-0.16	0.11	0.0		ADOOY
	ARLP	NRP	HNRG	NC	BTU	ITAYY	ADOOY

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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

HNRG	+ 0.91	ARLP
HNRG	+ 0.89	NRP
NRP	+ 0.87	ARLP
NC	+ 0.86	ARLP
BTU	+ 0.86	NRP
BTU	+ 0.81	HNRG

High negative correlations

ITAYY	- 0.69	NC
ITAYY	- 0.55	BTU
ITAYY	- 0.54	ARLP
ITAYY	- 0.49	NRP
ITAYY	- 0.42	HNRG
ADOOY	- 0.16	NC

Risk-Adjusted Indicators

There is a big difference between Consol Stock performing well and Consol Energy 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 Consol Energy'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
ARLP	0.88	0.23	0.12	0.71	0.98	(1.00)	2.38	(1.43)	7.48
NRP	1.48	0.21	0.18	0.32	1.01	(1.96)	3.98	(1.91)	9.46
HNRG	3.74	0.89	0.29	0.52	2.76	(4.68)	10.23	(5.09)	30.14
NC	1.83	0.07	0.06	0.18	1.85	(2.12)	6.39	(2.97)	12.54
BTU	2.03	(0.09)	(0.01)	0.06	2.45	(2.35)	4.84	(5.04)	14.73
ITAYY	1.14	(0.18)	0.00	(1.79)	0.00	0.00	1.51	(5.49)	17.93
ADOOY	2.15	0.11	(0.01)	(0.68)	2.33	(4.83)	5.94	(5.17)	24.68

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