National Fuel Correlations

NFG Stock

USD 78.17 0.84 1.06%

The current 90-days correlation between National Fuel Gas and Transportadora de Gas is 0.14 (i.e., Average diversification). The correlation of National Fuel 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.

National Fuel Correlation With Market

Weak diversification

The correlation between National Fuel Gas and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Fuel Gas and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in National Fuel Gas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with National Stock

0.87	E	Eni SpA ADR	Pair Corr
0.86	BP	BP PLC ADR	Pair Corr
0.89	EC	Ecopetrol SA ADR	Pair Corr
0.81	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.69	IMO	Imperial Oil	Pair Corr
0.96	TTE	TotalEnergies SE ADR	Pair Corr
0.71	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.91	SHEL	Shell PLC ADR	Pair Corr
0.68	D	Dominion Energy	Pair Corr
0.88	ED	Consolidated Edison	Pair Corr
0.79	ES	Eversource Energy	Pair Corr
0.87	NI	NiSource	Pair Corr
0.84	SO	Southern	Pair Corr
0.94	SR	Spire Inc	Pair Corr
0.86	DUKB	Duke Energy Corp	Pair Corr
0.9	CDZIP	Cadiz Depositary Shares Earnings Call This Week	Pair Corr
0.9	ELPC	Companhia Paranaense	Pair Corr
0.89	ENIC	Enel Chile SA	Pair Corr
0.92	EVRG	Evergy,	Pair Corr

Moving against National Stock

0.85	YPF	YPF Sociedad Anonima	Pair Corr
0.83	VIVK	Vivakor	Pair Corr
0.71	TGS	Transportadora de Gas	Pair Corr
0.5	CVE	Cenovus Energy	Pair Corr
0.46	SKYQ	Sky Quarry	Pair Corr
0.46	CRGY	Crescent Energy	Pair Corr
0.39	CGBS	Crown LNG Holdings	Pair Corr
0.72	RNWWW	ReNew Energy Global	Pair Corr
0.59	CMS-PC	CMS Energy	Pair Corr
0.45	AES	AES Aggressive Push	Pair Corr
0.34	BIP	Brookfield Infrastructure	Pair Corr

Related Correlations Analysis

	YPF	E	EC	TTE	EQNR	TGS	SHEL	PBR	BP	GLPEY
YPF		-0.65	-0.76	-0.76	0.13	0.91	-0.65	-0.16	-0.67	0.63	YPF
E	-0.65		0.84	0.93	0.53	-0.47	0.97	0.54	0.9	-0.42	E
EC	-0.76	0.84		0.9	0.21	-0.57	0.86	0.67	0.92	-0.65	EC
TTE	-0.76	0.93	0.9		0.37	-0.59	0.95	0.57	0.93	-0.53	TTE
EQNR	0.13	0.53	0.21	0.37		0.3	0.52	0.31	0.37	-0.09	EQNR
TGS	0.91	-0.47	-0.57	-0.59	0.3		-0.46	-0.05	-0.48	0.41	TGS
SHEL	-0.65	0.97	0.86	0.95	0.52	-0.46		0.59	0.91	-0.44	SHEL
PBR	-0.16	0.54	0.67	0.57	0.31	-0.05	0.59		0.67	-0.18	PBR
BP	-0.67	0.9	0.92	0.93	0.37	-0.48	0.91	0.67		-0.51	BP
GLPEY	0.63	-0.42	-0.65	-0.53	-0.09	0.41	-0.44	-0.18	-0.51		GLPEY
	YPF	E	EC	TTE	EQNR	TGS	SHEL	PBR	BP	GLPEY

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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

SHEL	+ 0.97	E
SHEL	+ 0.95	TTE
TTE	+ 0.93	E
BP	+ 0.93	TTE
BP	+ 0.92	EC
TGS	+ 0.91	YPF

High negative correlations

TTE	- 0.76	YPF
EC	- 0.76	YPF
BP	- 0.67	YPF
GLPEY	- 0.65	EC
SHEL	- 0.65	YPF
E	- 0.65	YPF

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Fuel 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 National Fuel'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
YPF	2.12	(0.22)	0.00	(0.38)	0.00	0.00	4.92	(5.00)	12.88
E	0.88	0.19	0.19	0.41	1.03	(0.86)	1.77	(1.52)	4.52
EC	1.78	0.40	0.18	0.41	1.78	(2.00)	4.99	(3.80)	11.63
TTE	0.78	0.23	0.27	0.72	0.73	(0.85)	1.87	(1.44)	4.36
EQNR	1.57	0.20	0.11	0.95	1.99	(1.60)	3.68	(3.54)	9.90
TGS	2.88	0.01	0.00	(0.06)	0.00	0.00	6.71	(5.05)	18.61
SHEL	0.84	0.21	0.21	0.45	0.92	(0.86)	1.93	(1.91)	5.34
PBR	1.22	0.15	0.10	0.28	1.67	(1.24)	3.07	(2.21)	10.11
BP	1.08	0.26	0.20	0.66	1.27	(1.17)	2.50	(2.18)	10.62
GLPEY	1.34	(0.05)	0.00	(0.14)	0.00	0.00	2.41	(3.28)	11.82

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