KNOT OFFSHORE PARTNERS LP (KNOP) — Stock Correlations & Overview
Over the past year, KNOP has moved most closely with PXJ, GASS, PBR. Explore the stocks most correlated and inversely correlated with KNOP below, along with its price, financials, and company profile.
Stocks correlated with KNOP
Correlation of daily returns. Higher positive values move with KNOP; negative values move opposite it. Informational only, not investment advice.
Most correlated with KNOP
| Symbol | Company | Correlation |
|---|---|---|
| PXJ | Invesco Oil & Gas Services ETF | 0.32 |
| GASS | StealthGas, Inc. | 0.31 |
| PBR | PETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE) | 0.31 |
| PBR.A | Petroleo Brasileiro S.A.-Petrobras | 0.30 |
| TNGY | Tortoise Energy ETF | 0.29 |
Most inversely correlated with KNOP
| Symbol | Company | Correlation |
|---|---|---|
| FLUD | Franklin Ultra Short Bond ETF | -0.24 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.23 |
| DUG | ProShares UltraShort Energy | -0.22 |
| BZQ | ProShares UltraShort MSCI Brazil Capped | -0.21 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.21 |
Frequently asked questions about KNOP correlations
- Which stocks are most correlated with KNOP?
- Based on one year of daily returns, the stocks most correlated with KNOT OFFSHORE PARTNERS LP (KNOP) are PXJ (0.32), GASS (0.31) and PBR (0.31). 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 KNOP?
- Over the past year, the stocks most inversely correlated with KNOT OFFSHORE PARTNERS LP (KNOP) are FLUD (-0.24), OILD (-0.23) and DUG (-0.22). 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 KNOP correlations calculated?
- We compute the correlation of daily returns between KNOP 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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