Natural Gas Correlations

NGUSD Commodity

3.40 0.27 8.63%

The current 90-days correlation between Natural Gas and Soybean Futures 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.

Natural Gas Correlation With Market

Good diversification

The correlation between Natural Gas and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Natural Gas and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Natural Gas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Natural Gas when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Natural Gas - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Natural Gas to buy it.

Moving together with Natural Commodity

0.69	AMZN	Amazon Inc	Pair Corr
0.65	META	Meta Platforms Aggressive Push	Pair Corr
0.66	COF	Capital One Financial Fiscal Year End 23rd of January 2025	Pair Corr
0.68	CISO	Cerberus Cyber Sentinel	Pair Corr
0.69	DE	Deere Company Fiscal Year End 27th of November 2024	Pair Corr
0.75	RKLB	Rocket Lab USA Aggressive Push	Pair Corr
0.73	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.74	WAB	Westinghouse Air Brake	Pair Corr
0.64	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.74	DISO	Tidal Trust II	Pair Corr
0.62	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.62	IDU	iShares Utilities ETF	Pair Corr
0.68	BTC	Grayscale Bitcoin Mini	Pair Corr
0.7	DIVG	Invesco Exchange Traded	Pair Corr
0.66	OEF	iShares SP 100	Pair Corr
0.76	USFR	WisdomTree Floating Rate	Pair Corr
0.77	MAGS	Roundhill Magnificent	Pair Corr
0.63	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.65	SCHD	Schwab Dividend Equity	Pair Corr
0.65	LLPFX	Longleaf Partners	Pair Corr
0.75	RQECX	Resq Dynamic Allocation	Pair Corr

Related Correlations Analysis

	ZSUSX	ESUSD	ZBUSD	ZTUSD	HOUSD	CLUSD	ALIUSD	ZCUSX	SIUSD	OJUSX
ZSUSX		-0.06	0.35	0.52	-0.12	-0.08	0.05	0.47	0.0	-0.21	ZSUSX
ESUSD	-0.06		-0.81	-0.57	0.3	-0.09	0.78	0.53	0.59	-0.52	ESUSD
ZBUSD	0.35	-0.81		0.9	-0.43	0.09	-0.67	-0.45	-0.48	0.3	ZBUSD
ZTUSD	0.52	-0.57	0.9		-0.49	0.0	-0.39	-0.22	-0.15	0.09	ZTUSD
HOUSD	-0.12	0.3	-0.43	-0.49		0.8	0.38	0.0	0.11	-0.27	HOUSD
CLUSD	-0.08	-0.09	0.09	0.0	0.8		0.06	-0.37	-0.04	-0.21	CLUSD
ALIUSD	0.05	0.78	-0.67	-0.39	0.38	0.06		0.46	0.83	-0.57	ALIUSD
ZCUSX	0.47	0.53	-0.45	-0.22	0.0	-0.37	0.46		0.31	-0.26	ZCUSX
SIUSD	0.0	0.59	-0.48	-0.15	0.11	-0.04	0.83	0.31		-0.48	SIUSD
OJUSX	-0.21	-0.52	0.3	0.09	-0.27	-0.21	-0.57	-0.26	-0.48		OJUSX
	ZSUSX	ESUSD	ZBUSD	ZTUSD	HOUSD	CLUSD	ALIUSD	ZCUSX	SIUSD	OJUSX

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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

ZTUSD	+ 0.9	ZBUSD
SIUSD	+ 0.83	ALIUSD
CLUSD	+ 0.8	HOUSD
ALIUSD	+ 0.78	ESUSD
SIUSD	+ 0.59	ESUSD
ZCUSX	+ 0.53	ESUSD

High negative correlations

ZBUSD	- 0.81	ESUSD
ALIUSD	- 0.67	ZBUSD
OJUSX	- 0.57	ALIUSD
ZTUSD	- 0.57	ESUSD
OJUSX	- 0.52	ESUSD
HOUSD	- 0.49	ZTUSD

Risk-Adjusted Indicators

There is a big difference between Natural Commodity performing well and Natural Gas Commodity 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
ZSUSX	0.82	0.00	(0.11)	0.17	0.96	(0.86)	1.59	(1.72)	4.70
ESUSD	0.55	0.00	(0.05)	0.12	0.69	(0.59)	1.11	(1.37)	3.88
ZBUSD	0.44	(0.09)	0.00	0.75	0.00	0.00	0.75	(1.15)	2.69
ZTUSD	0.09	(0.02)	0.00	(2.53)	0.00	0.00	0.18	(0.16)	0.90
HOUSD	1.55	0.02	(0.06)	0.02	1.99	(1.66)	3.07	(3.52)	9.93
CLUSD	1.83	(0.07)	0.00	(0.49)	0.00	0.00	3.46	(4.40)	11.28
ALIUSD	1.35	0.12	(0.02)	(0.45)	1.42	(1.58)	3.44	(2.48)	7.64
ZCUSX	0.98	0.22	0.10	9.19	0.78	(1.14)	1.85	(1.70)	10.22
SIUSD	1.52	0.09	(0.02)	(2.02)	1.90	(1.66)	3.19	(3.42)	9.02
OJUSX	2.01	0.09	(0.02)	(0.24)	2.70	(1.91)	3.56	(4.09)	10.95

View Natural Gas Related Equities

Soybean Futures E Mini SP 500 30 Year Treasury 2 Year T Note Futures Heating Oil Crude Oil Aluminum Futures Corn Futures Silver Futures Orange Juice Brent Crude Oil Natural Gas Five Year Treasury Note Micro Gold Futures Class III Milk

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