Natural Gas Correlations

NGS Stock

USD 21.65 0.11 0.51%

The correlation of Natural Gas 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.

Natural Gas Correlation With Market

Weak diversification

The correlation between Natural Gas Services 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 Natural Gas Services 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 Natural Gas Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Natural Stock

0.81	VTOL	Bristow Group	Pair Corr
0.87	EFXT	Enerflex	Pair Corr
0.87	WFRD	Weatherford International	Pair Corr
0.9	WTTR	Select Energy Services	Pair Corr
0.79	CLB	Core Laboratories	Pair Corr
0.75	DTI	Drilling Tools Inter	Pair Corr
0.82	FTI	TechnipFMC PLC	Pair Corr
0.81	HAL	Halliburton	Pair Corr
0.86	KGS	Kodiak Gas Services,	Pair Corr
0.76	MRC	MRC Global	Pair Corr
0.74	NOA	North American Const	Pair Corr
0.87	OII	Oceaneering International	Pair Corr
0.9	XPRO	Expro Group Holdings	Pair Corr
0.86	RES	RPC Inc	Pair Corr
0.66	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.91	TDW	Tidewater	Pair Corr
0.82	TTI	Tetra Technologies	Pair Corr
0.8	VAL	Valaris	Pair Corr
0.91	WHD	Cactus Inc	Pair Corr
0.73	GEOS	Geospace Technologies	Pair Corr
0.73	KLXE	KLX Energy Services	Pair Corr
0.84	LBRT	Liberty Oilfield Services	Pair Corr
0.68	NESRW	National Energy Services	Pair Corr
0.86	NESR	National Energy Services	Pair Corr

Moving against Natural Stock

0.42	INVX	Innovex International, Symbol Change	Pair Corr
0.39	E	Eni SpA ADR	Pair Corr
0.37	AM	Antero Midstream Partners	Pair Corr

Related Correlations Analysis

	EFXT	DRQ	FET	CCLP	AROC	GEOS	NR	MRC	NOA	HLX
EFXT		0.0	-0.29	0.0	0.47	0.92	0.0	0.78	0.93	0.63	EFXT
DRQ	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DRQ
FET	-0.29	0.0		0.0	0.58	-0.5	0.0	0.11	-0.48	-0.44	FET
CCLP	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CCLP
AROC	0.47	0.0	0.58	0.0		0.21	0.0	0.77	0.2	-0.08	AROC
GEOS	0.92	0.0	-0.5	0.0	0.21		0.0	0.63	0.96	0.77	GEOS
NR	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NR
MRC	0.78	0.0	0.11	0.0	0.77	0.63	0.0		0.6	0.27	MRC
NOA	0.93	0.0	-0.48	0.0	0.2	0.96	0.0	0.6		0.81	NOA
HLX	0.63	0.0	-0.44	0.0	-0.08	0.77	0.0	0.27	0.81		HLX
	EFXT	DRQ	FET	CCLP	AROC	GEOS	NR	MRC	NOA	HLX

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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

NOA	+ 0.96	GEOS
NOA	+ 0.93	EFXT
GEOS	+ 0.92	EFXT
HLX	+ 0.81	NOA
MRC	+ 0.78	EFXT
MRC	+ 0.77	AROC

High negative correlations

GEOS	- 0.5	FET
NOA	- 0.48	FET
HLX	- 0.44	FET
FET	- 0.29	EFXT
HLX	- 0.08	AROC
HLX	- 0.0	NR

Risk-Adjusted Indicators

There is a big difference between Natural Stock performing well and Natural Gas 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 Natural Gas' 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
EFXT	1.83	(0.27)	0.00	(0.42)	0.00	0.00	3.10	(4.67)	11.43
DRQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FET	2.31	0.62	0.24	0.38	2.18	(2.68)	5.21	(3.74)	17.06
CCLP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AROC	2.12	0.15	0.04	0.05	3.33	(1.92)	4.32	(6.34)	15.51
GEOS	1.94	(0.35)	0.00	(0.40)	0.00	0.00	2.85	(4.08)	19.90
NR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MRC	1.95	(0.04)	0.00	(0.09)	0.00	0.00	3.22	(4.41)	12.66
NOA	1.63	(0.31)	0.00	(0.38)	0.00	0.00	2.66	(4.77)	12.14
HLX	1.79	(0.01)	0.00	(0.07)	0.00	0.00	4.32	(3.49)	17.09

Natural Gas Corporate Executives

Elected by the shareholders, the Natural Gas' board of directors comprises two types of representatives: Natural Gas inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Natural. The board's role is to monitor Natural Gas' management team and ensure that shareholders' interests are well served. Natural Gas' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Natural Gas' outside directors are responsible for providing unbiased perspectives on the board's policies.

	Anna Delgado	Investor Coordinator	Profile
	Alicia Dada	Investor Coordinator	Profile

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