Natural Gas Correlations
| NGS Stock | USD 20.48 0.29 1.40% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Natural Gas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Natural Gas Services moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Natural Gas Services and NYA is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Natural Gas Services and NYA in the same portfolio, assuming nothing else is changed.
Natural |
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 Services to buy it.
Moving together with Natural Stock
| 0.65 | WFRD | Weatherford International | PairCorr |
| 0.73 | DTI | Drilling Tools Inter Symbol Change | PairCorr |
| 0.7 | FTI | TechnipFMC PLC Sell-off Trend | PairCorr |
| 0.77 | HLX | Helix Energy Solutions | PairCorr |
| 0.66 | KGS | Kodiak Gas Services | PairCorr |
Moving against Natural Stock
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
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 | 1.90 | (0.35) | 0.00 | (0.26) | 0.00 | 3.73 | 26.42 | |||
| DRQ | 1.85 | (0.40) | 0.00 | (0.26) | 0.00 | 3.09 | 11.91 | |||
| FET | 1.77 | (0.22) | 0.00 | (0.16) | 0.00 | 3.45 | 11.28 | |||
| CCLP | 2.01 | 1.00 | 0.65 | (4.96) | 0.61 | 7.88 | 10.41 | |||
| AROC | 1.50 | 0.09 | 0.04 | 0.09 | 2.05 | 2.79 | 10.06 | |||
| GEOS | 2.37 | (0.24) | 0.00 | (0.20) | 0.00 | 4.54 | 33.64 | |||
| NR | 1.51 | 0.32 | 0.18 | 0.29 | 1.58 | 3.74 | 9.77 | |||
| MRC | 1.21 | 0.10 | 0.07 | 0.09 | 1.37 | 2.63 | 11.99 | |||
| NOA | 1.37 | (0.31) | 0.00 | (0.33) | 0.00 | 2.27 | 10.23 | |||
| HLX | 1.46 | 0.15 | 0.06 | 0.12 | 2.22 | 2.86 | 11.67 |
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.
| Alicia Dada | Investor Coordinator | Profile |
Additional Tools for Natural Stock Analysis
When running Natural Gas' price analysis, check to measure Natural Gas' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Natural Gas is operating at the current time. Most of Natural Gas' value examination focuses on studying past and present price action to predict the probability of Natural Gas' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Natural Gas' price. Additionally, you may evaluate how the addition of Natural Gas to your portfolios can decrease your overall portfolio volatility.