Diamondback Energy, Inc. (FANG) — Stock Correlations & Overview
Over the past year, FANG has moved most closely with OILT, FCG, FTXN. Explore the stocks most correlated and inversely correlated with FANG below, along with its price, financials, and company profile.
Stocks correlated with FANG
Correlation of daily returns. Higher positive values move with FANG; negative values move opposite it. Informational only, not investment advice.
Most correlated with FANG
| Symbol | Company | Correlation |
|---|---|---|
| OILT | Texas Capital Texas Oil Index ETF | 0.88 |
| FCG | First Trust Natural Gas ETF | 0.85 |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 0.84 |
| FXN | First Trust Energy AlphaDEX Fund | 0.84 |
| PXE | Invesco Energy Exploration & Production ETF | 0.83 |
Most inversely correlated with FANG
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.84 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.83 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.81 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.81 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.80 |
Frequently asked questions about FANG correlations
- Which stocks are most correlated with FANG?
- Based on one year of daily returns, the stocks most correlated with Diamondback Energy, Inc. (FANG) are OILT (0.88), FCG (0.85) and FTXN (0.84). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with FANG?
- Over the past year, the stocks most inversely correlated with Diamondback Energy, Inc. (FANG) are DRIP (-0.84), NRGD (-0.83) and OILD (-0.81). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these FANG correlations calculated?
- We compute the correlation of daily returns between FANG and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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