National Fuel Correlations

NFG Stock

USD 76.78 0.87 1.12%

The current 90-days correlation between National Fuel Gas and YPF Sociedad Anonima is 0.53 (i.e., Very weak 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

Good diversification

The correlation between National Fuel Gas and DJI is -0.02 (i.e., Good 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.

Build AI portfolio with National Stock

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

0.9	ED	Consolidated Edison Sell-off Trend	Pair Corr
0.62	NI	NiSource Earnings Call This Week	Pair Corr
0.8	SO	Southern	Pair Corr
0.92	SR	Spire Inc	Pair Corr
0.76	ELPC	Companhia Paranaense Earnings Call This Week	Pair Corr

Moving against National Stock

0.8	CGBSW	Crown LNG Holdings	Pair Corr
0.78	CGBS	Crown LNG Holdings	Pair Corr
0.77	VG	Venture Global,	Pair Corr
0.7	CRGY	Crescent Energy Earnings Call This Week	Pair Corr
0.69	SLNG	Stabilis Solutions Earnings Call This Week	Pair Corr
0.5	SKYQ	Sky Quarry	Pair Corr
0.46	CVE	Cenovus Energy	Pair Corr
0.43	YPF	YPF Sociedad Anonima Earnings Call This Week	Pair Corr
0.31	PBR	Petroleo Brasileiro	Pair Corr
0.69	CEG	Constellation Energy Corp Buyout Trend	Pair Corr
0.68	RNWWW	ReNew Energy Global	Pair Corr
0.66	CMS-PC	CMS Energy	Pair Corr
0.58	BIP	Brookfield Infrastructure	Pair Corr
0.46	ELLO	Ellomay Capital	Pair Corr
0.43	VGAS	Verde Clean Fuels	Pair Corr
0.31	ENLT	Enlight Renewable Energy Earnings Call This Week	Pair Corr

Related Correlations Analysis

	YPF	E	EC	TTE	EQNR	TGS	SHEL	PBR	BP	GLPEY
YPF		0.35	0.4	0.39	0.3	0.81	0.41	0.83	0.66	0.75	YPF
E	0.35		0.75	0.85	0.78	0.35	0.96	0.55	0.67	0.7	E
EC	0.4	0.75		0.69	0.55	0.38	0.78	0.65	0.71	0.48	EC
TTE	0.39	0.85	0.69		0.69	0.37	0.87	0.6	0.8	0.74	TTE
EQNR	0.3	0.78	0.55	0.69		0.34	0.83	0.46	0.44	0.57	EQNR
TGS	0.81	0.35	0.38	0.37	0.34		0.37	0.54	0.4	0.57	TGS
SHEL	0.41	0.96	0.78	0.87	0.83	0.37		0.63	0.72	0.72	SHEL
PBR	0.83	0.55	0.65	0.6	0.46	0.54	0.63		0.87	0.78	PBR
BP	0.66	0.67	0.71	0.8	0.44	0.4	0.72	0.87		0.79	BP
GLPEY	0.75	0.7	0.48	0.74	0.57	0.57	0.72	0.78	0.79		GLPEY
	YPF	E	EC	TTE	EQNR	TGS	SHEL	PBR	BP	GLPEY

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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	2.89	(0.41)	0.00	1.17	0.00	0.00	6.27	(5.49)	16.85
E	1.41	0.00	0.08	(0.15)	2.38	(1.31)	2.89	(4.76)	11.80
EC	2.39	0.06	0.08	(0.27)	3.11	(2.59)	6.11	(5.76)	18.07
TTE	1.32	0.13	0.07	0.02	2.12	(1.27)	2.59	(3.65)	10.05
EQNR	1.74	(0.05)	0.00	0.42	0.00	0.00	4.09	(4.78)	12.39
TGS	3.10	(0.09)	0.00	0.20	0.00	0.00	9.02	(5.80)	17.71
SHEL	1.31	(0.02)	0.06	(0.05)	2.40	(1.19)	2.23	(4.06)	13.36
PBR	1.63	(0.14)	0.00	(0.31)	0.00	0.00	3.55	(5.64)	14.03
BP	1.67	0.02	0.00	(0.12)	0.00	0.00	2.81	(4.26)	16.11
GLPEY	1.79	(0.05)	0.00	(0.24)	0.00	0.00	3.23	(4.27)	16.46

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