Natural Gas Correlations

NGS Stock

USD 27.23 1.32 5.09%

The current 90-days correlation between Natural Gas Services and Dril Quip is 0.1 (i.e., Average 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 0.5 (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.

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

0.69	TS	Tenaris SA ADR Sell-off Trend	Pair Corr
0.62	VTOL	Bristow Group	Pair Corr
0.77	EFXT	Enerflex	Pair Corr
0.81	BKR	Baker Hughes Fiscal Year End 28th of January 2025	Pair Corr
0.67	CLB	Core Laboratories	Pair Corr
0.77	FTI	TechnipFMC PLC	Pair Corr
0.81	FTK	Flotek Industries	Pair Corr
0.73	KGS	Kodiak Gas Services,	Pair Corr
0.84	MRC	MRC Global	Pair Corr
0.82	OII	Oceaneering International	Pair Corr
0.79	OIS	Oil States International	Pair Corr
0.87	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.75	SND	Smart Sand	Pair Corr
0.83	TTI	Tetra Technologies	Pair Corr
0.71	WHD	Cactus Inc	Pair Corr
0.71	GEOS	Geospace Technologies	Pair Corr
0.64	INVX	Innovex International, Symbol Change	Pair Corr

Moving against Natural Stock

0.38	TDW	Tidewater	Pair Corr
0.36	XPRO	Expro Group Holdings	Pair Corr
0.63	NESRW	National Energy Services	Pair Corr
0.63	BOOM	Dmc Global	Pair Corr
0.49	RCON	Recon Technology	Pair Corr
0.48	NESR	National Energy Services	Pair Corr
0.33	BP	BP PLC ADR	Pair Corr
0.31	E	Eni SpA ADR	Pair Corr

Related Correlations Analysis

	EFXT	DRQ	FET	CCLP	AROC	GEOS	NR	MRC	NOA	HLX
EFXT		-0.61	-0.47	-0.23	0.89	0.83	-0.28	0.63	0.41	0.03	EFXT
DRQ	-0.61		0.66	-0.14	-0.43	-0.6	0.52	-0.18	0.13	0.35	DRQ
FET	-0.47	0.66		0.01	-0.19	-0.41	0.87	0.24	0.31	0.66	FET
CCLP	-0.23	-0.14	0.01		-0.28	-0.16	0.21	-0.19	-0.41	-0.16	CCLP
AROC	0.89	-0.43	-0.19	-0.28		0.81	-0.1	0.8	0.49	0.27	AROC
GEOS	0.83	-0.6	-0.41	-0.16	0.81		-0.24	0.69	0.48	-0.12	GEOS
NR	-0.28	0.52	0.87	0.21	-0.1	-0.24		0.36	0.31	0.6	NR
MRC	0.63	-0.18	0.24	-0.19	0.8	0.69	0.36		0.67	0.53	MRC
NOA	0.41	0.13	0.31	-0.41	0.49	0.48	0.31	0.67		0.31	NOA
HLX	0.03	0.35	0.66	-0.16	0.27	-0.12	0.6	0.53	0.31		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

AROC	+ 0.89	EFXT
NR	+ 0.87	FET
GEOS	+ 0.83	EFXT
GEOS	+ 0.81	AROC
MRC	+ 0.8	AROC
MRC	+ 0.69	GEOS

High negative correlations

DRQ	- 0.61	EFXT
GEOS	- 0.6	DRQ
FET	- 0.47	EFXT
AROC	- 0.43	DRQ
NOA	- 0.41	CCLP
GEOS	- 0.41	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
EFXT	1.70	0.67	0.34	1.06	1.25	(2.06)	4.56	(2.72)	8.19
DRQ	1.89	(0.13)	0.00	(0.26)	0.00	0.00	3.57	(4.30)	12.98
FET	1.81	(0.29)	0.00	(0.15)	0.00	0.00	4.69	(3.35)	11.03
CCLP	2.66	(0.12)	0.00	(0.04)	0.00	0.00	8.11	(4.35)	17.49
AROC	1.61	0.24	0.17	0.22	1.53	(1.88)	3.19	(2.31)	14.49
GEOS	2.01	0.24	0.14	0.19	2.09	(2.28)	4.68	(3.45)	16.83
NR	1.68	(0.25)	0.00	(0.04)	0.00	0.00	3.69	(3.89)	13.55
MRC	1.49	0.00	0.05	0.09	1.53	(1.71)	3.28	(2.94)	18.83
NOA	1.60	0.06	0.01	0.24	2.12	(1.71)	3.37	(2.99)	15.73
HLX	1.95	(0.07)	0.01	0.05	2.30	(2.00)	5.47	(3.94)	11.37

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.

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