Golar LNG Correlations

GLNG Stock

USD 37.76 0.54 1.41%

The correlation of Golar LNG 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.

Golar LNG Correlation With Market

Weak diversification

The correlation between Golar LNG Limited and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golar LNG Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Golar LNG Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Golar Stock

0.69	EE	Excelerate Energy	Pair Corr
0.75	DLNG	Dynagas LNG Partners	Pair Corr
0.91	VNOM	Viper Energy Ut	Pair Corr
0.71	DTM	DT Midstream	Pair Corr
0.72	LPG	Dorian LPG	Pair Corr
0.68	OKE	ONEOK Inc	Pair Corr
0.8	PBT	Permian Basin Royalty	Pair Corr
0.84	IMPP	Imperial Petroleum	Pair Corr

Moving against Golar Stock

0.83	GLOP-PC	GasLog Partners LP	Pair Corr
0.77	GLOP-PB	GasLog Partners LP	Pair Corr
0.76	GEL	Genesis Energy LP	Pair Corr
0.71	GLOP-PA	GasLog Partners LP	Pair Corr
0.62	AM	Antero Midstream Partners	Pair Corr
0.6	PBA	Pembina Pipeline Corp	Pair Corr
0.55	CQP	Cheniere Energy Partners	Pair Corr
0.51	EPD	Enterprise Products	Pair Corr
0.38	GLP	Global Partners LP	Pair Corr
0.38	PAA	Plains All American	Pair Corr
0.64	GLP-PB	Global Partners LP	Pair Corr
0.59	SOBO	South Bow	Pair Corr
0.57	TEN-PF	Tsakos Energy Navigation	Pair Corr
0.55	HESM	Hess Midstream Partners	Pair Corr
0.55	MPLX	MPLX LP	Pair Corr
0.55	DLNG-PB	Dynagas LNG Partners	Pair Corr
0.53	EP-PC	El Paso Energy	Pair Corr
0.52	SEAL-PA	Seapeak LLC	Pair Corr
0.5	SEAL-PB	Seapeak LLC	Pair Corr
0.41	PAGP	Plains GP Holdings	Pair Corr
0.38	DLNG-PA	Dynagas LNG Partners	Pair Corr

Related Correlations Analysis

	TNK	INSW	EURN	FRO	DHT	LPG	LNG	STNG	FLNG
TNK		0.93	0.0	0.72	0.52	0.81	0.63	0.75	0.82	TNK
INSW	0.93		0.0	0.78	0.62	0.73	0.47	0.63	0.84	INSW
EURN	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	EURN
FRO	0.72	0.78	0.0		0.94	0.33	0.57	0.15	0.8	FRO
DHT	0.52	0.62	0.0	0.94		0.13	0.48	-0.11	0.72	DHT
LPG	0.81	0.73	0.0	0.33	0.13		0.46	0.89	0.63	LPG
LNG	0.63	0.47	0.0	0.57	0.48	0.46		0.37	0.69	LNG
STNG	0.75	0.63	0.0	0.15	-0.11	0.89	0.37		0.48	STNG
FLNG	0.82	0.84	0.0	0.8	0.72	0.63	0.69	0.48		FLNG
	TNK	INSW	EURN	FRO	DHT	LPG	LNG	STNG	FLNG

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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

DHT	+ 0.94	FRO
INSW	+ 0.93	TNK
STNG	+ 0.89	LPG
FLNG	+ 0.84	INSW
FLNG	+ 0.82	TNK
LPG	+ 0.81	TNK

High negative correlations

STNG	- 0.11	DHT
FLNG	- 0.0	EURN
STNG	- 0.0	EURN
LNG	- 0.0	EURN
LPG	- 0.0	EURN
DHT	- 0.0	EURN

Risk-Adjusted Indicators

There is a big difference between Golar Stock performing well and Golar LNG 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 Golar LNG'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
TNK	2.10	0.04	0.05	(0.20)	2.51	(2.37)	4.21	(4.73)	13.51
INSW	2.27	0.03	0.03	0.06	2.73	(2.36)	5.03	(4.17)	16.80
EURN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FRO	2.61	0.27	0.10	1.75	2.99	(2.95)	6.23	(4.99)	20.10
DHT	1.80	0.30	0.15	1.18	2.11	(1.93)	3.84	(4.25)	12.13
LPG	2.02	0.03	0.03	0.04	2.68	(2.11)	4.25	(5.55)	11.00
LNG	1.58	0.15	0.07	0.16	2.25	(1.48)	3.30	(3.37)	12.47
STNG	1.91	(0.26)	0.00	13.38	0.00	0.00	3.51	(3.65)	19.16
FLNG	1.48	0.06	0.06	(1.05)	1.91	(1.60)	3.25	(3.95)	10.07

Golar LNG Corporate Management

Federico Petersen	Chief Ltd	Profile
Olve Skjeggedal	Chief Norway	Profile
Eduardo Maranhao	Chief Officer	Profile
Ragnar Nes	Chief Norway	Profile
Karl Staubo	Chief Officer	Profile
Erik Svendsen	Chief AS	Profile
Morten Skjong	Chief Ltd	Profile

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