Granite Ridge Resources, Inc. (GRNT) — Stock Correlations & Overview
Over the past year, GRNT has moved most closely with FCG, OILT, PXE. Explore the stocks most correlated and inversely correlated with GRNT below, along with its price, financials, and company profile.
Stocks correlated with GRNT
Correlation of daily returns. Higher positive values move with GRNT; negative values move opposite it. Informational only, not investment advice.
Most correlated with GRNT
| Symbol | Company | Correlation |
|---|---|---|
| FCG | First Trust Natural Gas ETF | 0.73 |
| OILT | Texas Capital Texas Oil Index ETF | 0.71 |
| PXE | Invesco Energy Exploration & Production ETF | 0.70 |
| CHRD | Chord Energy Corporation Common StockCRUDE PETROLEUM & NATURAL GAS | 0.70 |
| GUSH | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF | 0.69 |
Most inversely correlated with GRNT
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.69 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.65 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.64 |
| DUG | ProShares UltraShort Energy | -0.64 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.64 |
Frequently asked questions about GRNT correlations
- Which stocks are most correlated with GRNT?
- Based on one year of daily returns, the stocks most correlated with Granite Ridge Resources, Inc. (GRNT) are FCG (0.73), OILT (0.71) and PXE (0.70). 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 GRNT?
- Over the past year, the stocks most inversely correlated with Granite Ridge Resources, Inc. (GRNT) are DRIP (-0.69), WTID (-0.65) and OILD (-0.64). 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 GRNT correlations calculated?
- We compute the correlation of daily returns between GRNT 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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