National Fuel Correlations

NFG Stock

USD 64.23 0.72 1.13%

The current 90-days correlation between National Fuel Gas and YPF Sociedad Anonima is -0.04 (i.e., Good 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 0.34 (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

0.69	D	Dominion Energy	Pair Corr
0.74	NI	NiSource	Pair Corr
0.63	EVRG	Evergy,	Pair Corr

Moving against National Stock

0.59	EC	Ecopetrol SA ADR	Pair Corr
0.55	VIVK	Vivakor	Pair Corr
0.54	TTE	TotalEnergies SE ADR	Pair Corr
0.51	SHEL	Shell PLC ADR	Pair Corr
0.48	BP	BP PLC ADR	Pair Corr
0.45	E	Eni SpA ADR	Pair Corr
0.4	CVE	Cenovus Energy Sell-off Trend	Pair Corr
0.39	PBR	Petroleo Brasileiro Aggressive Push	Pair Corr
0.36	HE	Hawaiian Electric	Pair Corr
0.32	EQNR	Equinor ASA ADR	Pair Corr
0.6	ELPC	Companhia Paranaense Potential Growth	Pair Corr
0.46	CIG	Companhia Energetica	Pair Corr
0.43	AQN	Algonquin Power Utilities	Pair Corr
0.42	RNWWW	ReNew Energy Global	Pair Corr
0.34	AES	AES	Pair Corr
0.33	CWT	California Water Service	Pair Corr

Related Correlations Analysis

	YPF	E	EC	TTE	EQNR	TGS	SHEL	PBR	BP	GLPEY
YPF		-0.69	-0.61	-0.83	-0.46	0.97	-0.41	-0.38	-0.67	-0.74	YPF
E	-0.69		0.74	0.89	0.75	-0.72	0.85	0.59	0.89	0.83	E
EC	-0.61	0.74		0.82	0.85	-0.64	0.74	0.83	0.92	0.93	EC
TTE	-0.83	0.89	0.82		0.74	-0.83	0.66	0.69	0.9	0.84	TTE
EQNR	-0.46	0.75	0.85	0.74		-0.5	0.66	0.79	0.84	0.77	EQNR
TGS	0.97	-0.72	-0.64	-0.83	-0.5		-0.47	-0.44	-0.72	-0.78	TGS
SHEL	-0.41	0.85	0.74	0.66	0.66	-0.47		0.55	0.81	0.81	SHEL
PBR	-0.38	0.59	0.83	0.69	0.79	-0.44	0.55		0.79	0.7	PBR
BP	-0.67	0.89	0.92	0.9	0.84	-0.72	0.81	0.79		0.93	BP
GLPEY	-0.74	0.83	0.93	0.84	0.77	-0.78	0.81	0.7	0.93		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

TGS	+ 0.97	YPF
GLPEY	+ 0.93	EC
GLPEY	+ 0.93	BP
BP	+ 0.92	EC
BP	+ 0.9	TTE
TTE	+ 0.89	E

High negative correlations

TGS	- 0.83	TTE
TTE	- 0.83	YPF
GLPEY	- 0.78	TGS
GLPEY	- 0.74	YPF
BP	- 0.72	TGS
TGS	- 0.72	E

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	2.06	0.92	0.54	1.12	1.04	(2.72)	5.61	(2.51)	10.08
E	0.96	(0.12)	0.00	(0.65)	0.00	0.00	1.63	(2.34)	5.15
EC	1.40	(0.33)	0.00	(0.65)	0.00	0.00	2.46	(3.86)	8.46
TTE	1.00	(0.22)	0.00	(0.82)	0.00	0.00	1.62	(2.57)	7.40
EQNR	1.48	(0.06)	0.00	2.61	0.00	0.00	3.30	(4.50)	8.46
TGS	2.22	0.75	0.27	2.18	1.87	(2.55)	6.42	(3.08)	12.65
SHEL	0.99	(0.14)	0.00	(0.35)	0.00	0.00	1.42	(2.79)	5.88
PBR	1.29	0.03	(0.03)	0.20	1.51	(1.38)	2.41	(2.53)	12.42
BP	1.17	(0.22)	0.00	(0.30)	0.00	0.00	1.70	(3.34)	7.70
GLPEY	1.15	(0.37)	0.00	19.95	0.00	0.00	1.54	(2.74)	7.62

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