Correlation Between Brookfield Infrastructure and National Fuel

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Brookfield Infrastructure and National Fuel at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Brookfield Infrastructure and National Fuel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brookfield Infrastructure Partners and National Fuel Gas, you can compare the effects of market volatilities on Brookfield Infrastructure and National Fuel and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Brookfield Infrastructure with a short position of National Fuel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brookfield Infrastructure and National Fuel.

Diversification Opportunities for Brookfield Infrastructure and National Fuel

0.23
  Correlation Coefficient

Modest diversification

The 3 months correlation between Brookfield and National is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Brookfield Infrastructure Part and National Fuel Gas in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on National Fuel Gas and Brookfield Infrastructure is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Brookfield Infrastructure Partners are associated (or correlated) with National Fuel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of National Fuel Gas has no effect on the direction of Brookfield Infrastructure i.e., Brookfield Infrastructure and National Fuel go up and down completely randomly.

Pair Corralation between Brookfield Infrastructure and National Fuel

Considering the 90-day investment horizon Brookfield Infrastructure is expected to generate 4.98 times less return on investment than National Fuel. But when comparing it to its historical volatility, Brookfield Infrastructure Partners is 1.31 times less risky than National Fuel. It trades about 0.02 of its potential returns per unit of risk. National Fuel Gas is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  8,196  in National Fuel Gas on May 7, 2025 and sell it today you would earn a total of  534.00  from holding National Fuel Gas or generate 6.52% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Brookfield Infrastructure Part  vs.  National Fuel Gas

 Performance 
       Timeline  
Brookfield Infrastructure 

Risk-Adjusted Performance

Weak

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Brookfield Infrastructure Partners are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Even with relatively invariable forward indicators, Brookfield Infrastructure is not utilizing all of its potentials. The recent stock price agitation, may contribute to short-term losses for the retail investors.
National Fuel Gas 

Risk-Adjusted Performance

Modest

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in National Fuel Gas are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile technical and fundamental indicators, National Fuel may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Brookfield Infrastructure and National Fuel Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Brookfield Infrastructure and National Fuel

The main advantage of trading using opposite Brookfield Infrastructure and National Fuel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brookfield Infrastructure position performs unexpectedly, National Fuel can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in National Fuel will offset losses from the drop in National Fuel's long position.
The idea behind Brookfield Infrastructure Partners and National Fuel Gas pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
Check out your portfolio center.
Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.

Other Complementary Tools

Top Crypto Exchanges
Search and analyze digital assets across top global cryptocurrency exchanges
Sync Your Broker
Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.
Crypto Correlations
Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins
Portfolio Optimization
Compute new portfolio that will generate highest expected return given your specified tolerance for risk
Financial Widgets
Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets