Natural Gas Correlations

NGS Stock

USD 26.90 0.43 1.62%

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

Good diversification

The correlation between Natural Gas Services and DJI is -0.16 (i.e., Good 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 price.

Moving together with Natural Stock

0.66	VTOL	Bristow Group	Pair Corr
0.75	EFXT	Enerflex Potential Growth	Pair Corr
0.86	DTI	Drilling Tools Inter Potential Growth	Pair Corr
0.85	FTI	TechnipFMC PLC	Pair Corr
0.92	FTK	Flotek Industries	Pair Corr
0.77	MRC	MRC Global Upward Rally	Pair Corr
0.87	NOA	North American Const	Pair Corr
0.68	OII	Oceaneering International	Pair Corr
0.75	OIS	Oil States International	Pair Corr
0.81	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.8	TDW	Tidewater	Pair Corr
0.82	VAL	Valaris	Pair Corr
0.73	WHD	Cactus Inc	Pair Corr
0.86	NESRW	National Energy Services	Pair Corr

Moving against Natural Stock

0.35

FLOC

Flowco Holdings

Pair Corr

Related Correlations Analysis

	EFXT	DRQ	FET	CCLP	AROC	GEOS	NR	MRC	NOA	HLX
EFXT		0.0	0.88	0.0	0.63	0.48	0.0	0.61	0.73	0.62	EFXT
DRQ	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DRQ
FET	0.88	0.0		0.0	0.56	0.51	0.0	0.36	0.44	0.79	FET
CCLP	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CCLP
AROC	0.63	0.0	0.56	0.0		0.12	0.0	0.3	0.43	0.51	AROC
GEOS	0.48	0.0	0.51	0.0	0.12		0.0	0.33	0.19	0.06	GEOS
NR	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NR
MRC	0.61	0.0	0.36	0.0	0.3	0.33	0.0		0.88	0.03	MRC
NOA	0.73	0.0	0.44	0.0	0.43	0.19	0.0	0.88		0.14	NOA
HLX	0.62	0.0	0.79	0.0	0.51	0.06	0.0	0.03	0.14		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

FET	+ 0.88	EFXT
NOA	+ 0.88	MRC
HLX	+ 0.79	FET
NOA	+ 0.73	EFXT
AROC	+ 0.63	EFXT
HLX	+ 0.62	EFXT

High negative correlations

HLX	- 0.0	NR
NOA	- 0.0	NR
MRC	- 0.0	NR
NR	- 0.0	GEOS
NR	- 0.0	AROC
HLX	- 0.0	CCLP

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	2.09	0.02	0.01	0.05	3.79	(1.94)	3.69	(4.33)	19.55
DRQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FET	3.35	(0.06)	(0.01)	0.00	5.07	(3.08)	5.53	(8.17)	21.04
CCLP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AROC	1.99	0.01	(0.01)	(0.01)	3.27	(2.00)	3.40	(5.02)	17.14
GEOS	5.14	1.52	0.35	1.11	3.53	(6.73)	9.98	(7.87)	68.56
NR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MRC	1.90	0.14	0.05	0.15	2.58	(2.08)	5.96	(3.67)	15.36
NOA	1.86	0.04	0.01	0.07	2.82	(1.84)	2.92	(4.22)	17.71
HLX	2.62	(0.46)	0.00	(0.24)	0.00	0.00	4.91	(8.14)	23.19

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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