Kimbell Royalty Partners, LP Common Units representing Limited Partner Interests (KRP) — Stock Correlations & Overview
Over the past year, KRP has moved most closely with FCG, OILT, GUSH. Explore the stocks most correlated and inversely correlated with KRP below, along with its price, financials, and company profile.
Stocks correlated with KRP
Correlation of daily returns. Higher positive values move with KRP; negative values move opposite it. Informational only, not investment advice.
Most correlated with KRP
| Symbol | Company | Correlation |
|---|---|---|
| FCG | First Trust Natural Gas ETF | 0.68 |
| OILT | Texas Capital Texas Oil Index ETF | 0.67 |
| GUSH | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF | 0.66 |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 0.66 |
| XOP | State Street SPDR S&P Oil & Gas Exploration & Production ETF | 0.66 |
Most inversely correlated with KRP
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.66 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.63 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.62 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.62 |
| DUG | ProShares UltraShort Energy | -0.62 |
Frequently asked questions about KRP correlations
- Which stocks are most correlated with KRP?
- Based on one year of daily returns, the stocks most correlated with Kimbell Royalty Partners, LP Common Units representing Limited Partner Interests (KRP) are FCG (0.68), OILT (0.67) and GUSH (0.66). 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 KRP?
- Over the past year, the stocks most inversely correlated with Kimbell Royalty Partners, LP Common Units representing Limited Partner Interests (KRP) are DRIP (-0.66), OILD (-0.63) and ERY (-0.62). 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 KRP correlations calculated?
- We compute the correlation of daily returns between KRP 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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