Natural Gas Correlations

NGS Stock

USD 25.85 0.24 0.92%

The current 90-days correlation between Natural Gas Services and Forum Energy Technologies is 0.51 (i.e., Very weak diversification). 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

Very weak diversification

The correlation between Natural Gas Services and DJI is 0.48 (i.e., Very 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.

Build AI portfolio with Natural Stock

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 rate.

Moving together with Natural Stock

0.8	SRJ	SRJ Technologies	Pair Corr
0.63	HLX	Helix Energy Solutions Earnings Call This Week	Pair Corr
0.86	OII	Oceaneering International Earnings Call This Week	Pair Corr
0.71	TTI	Tetra Technologies	Pair Corr
0.77	002108	Cangzhou Mingzhu Plastic	Pair Corr
0.9	NESR	National Energy Services	Pair Corr
0.89	NPKI	NPK International Symbol Change	Pair Corr
0.83	603800	Suzhou Douson Drilling	Pair Corr
0.71	CPA	Copa Holdings SA	Pair Corr
0.84	CVI	CVR Energy	Pair Corr
0.76	AHII	American Heritage	Pair Corr
0.77	NTES	NetEase	Pair Corr
0.71	CPK	Chesapeake Utilities	Pair Corr

Moving against Natural Stock

0.68	600583	Offshore Oil Engineering	Pair Corr
0.67	MTRX	Matrix Service	Pair Corr
0.62	UNIDT	United Drilling Tools	Pair Corr
0.61	FLOC	Flowco Holdings	Pair Corr
0.45	JINDRILL	Jindal Drilling And Earnings Call Next Week	Pair Corr
0.44	0NIS	SBM Offshore NV	Pair Corr
0.42	NOA	North American Const	Pair Corr
0.37	NOA	North American Const	Pair Corr
0.34	WHD	Cactus Inc	Pair Corr
0.77	CBRL	Cracker Barrel Old	Pair Corr
0.75	OMSE	OMS Energy Technologies	Pair Corr
0.6	CFW	Calfrac Well Services	Pair Corr
0.54	603727	Bomesc Offshore Engi	Pair Corr

Related Correlations Analysis

	FET	RNGR	GPRK	OIS	GEOS	GFR	WTI	NOA	NC	PNRG
FET		0.64	-0.2	0.66	0.69	0.59	0.49	-0.55	0.55	-0.16	FET
RNGR	0.64		0.01	0.46	0.43	0.77	0.06	-0.37	0.29	0.1	RNGR
GPRK	-0.2	0.01		0.13	-0.3	-0.03	-0.03	0.27	-0.01	0.27	GPRK
OIS	0.66	0.46	0.13		0.54	0.38	0.65	-0.06	0.83	0.24	OIS
GEOS	0.69	0.43	-0.3	0.54		0.37	0.76	-0.39	0.39	-0.19	GEOS
GFR	0.59	0.77	-0.03	0.38	0.37		0.08	-0.46	0.28	-0.12	GFR
WTI	0.49	0.06	-0.03	0.65	0.76	0.08		-0.04	0.55	0.01	WTI
NOA	-0.55	-0.37	0.27	-0.06	-0.39	-0.46	-0.04		0.02	0.66	NOA
NC	0.55	0.29	-0.01	0.83	0.39	0.28	0.55	0.02		0.31	NC
PNRG	-0.16	0.1	0.27	0.24	-0.19	-0.12	0.01	0.66	0.31		PNRG
	FET	RNGR	GPRK	OIS	GEOS	GFR	WTI	NOA	NC	PNRG

Please upgrade your account to get full access to Macroaxis premium features

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

NC	+ 0.83	OIS
GFR	+ 0.77	RNGR
WTI	+ 0.76	GEOS
GEOS	+ 0.69	FET
OIS	+ 0.66	FET
PNRG	+ 0.66	NOA

High negative correlations

NOA	- 0.55	FET
NOA	- 0.46	GFR
NOA	- 0.39	GEOS
NOA	- 0.37	RNGR
GEOS	- 0.3	GPRK
GPRK	- 0.2	FET

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
FET	2.36	0.41	0.19	0.24	2.19	(2.80)	4.67	(3.59)	26.85
RNGR	2.17	0.08	0.03	0.10	2.63	(2.20)	4.52	(4.52)	19.29
GPRK	2.05	(0.14)	0.00	(0.23)	0.00	0.00	4.01	(4.63)	10.95
OIS	2.11	0.05	0.04	0.07	3.11	(2.17)	5.56	(4.17)	18.01
GEOS	4.07	1.00	0.21	0.40	4.73	(4.63)	10.24	(6.10)	38.55
GFR	1.82	0.03	0.02	0.08	1.95	(2.03)	3.94	(3.05)	11.47
WTI	2.91	0.30	0.08	0.18	3.63	(3.42)	5.20	(4.89)	32.45
NOA	1.95	(0.06)	0.00	(0.02)	0.00	0.00	3.57	(3.56)	28.48
NC	2.17	0.08	0.06	0.08	2.26	(2.38)	5.41	(4.05)	11.23
PNRG	2.83	(0.13)	(0.01)	0.00	4.26	(2.62)	4.84	(6.81)	21.69

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC