NGL ENERGY PARTNERS LP (NGL) — Stock Correlations & Overview
Over the past year, NGL has moved most closely with MTC, MLPR, AMUB. Explore the stocks most correlated and inversely correlated with NGL below, along with its price, financials, and company profile.
Stocks correlated with NGL
Correlation of daily returns. Higher positive values move with NGL; negative values move opposite it. Informational only, not investment advice.
Most correlated with NGL
| Symbol | Company | Correlation |
|---|---|---|
| MTC | MMTec, Inc. Common Shares | 0.38 |
| MLPR | ETRACS Quarterly Pay 1.5X Leveraged Alerian MLP Index ETN | 0.36 |
| AMUB | ETRACS Alerian MLP Index ETN Series B due July 18, 2042 | 0.36 |
| BWpA | Babcock & Wilcox Enterprises, Inc. 7.75% Series A Cumulative Perpetual Preferred StockHEATING EQUIPMENT, EXCEPT ELECTRIC & WARM AIR FURNACES | 0.34 |
| NVIR | Horizon Kinetics Energy and Remediation ETF | 0.32 |
Most inversely correlated with NGL
| Symbol | Company | Correlation |
|---|---|---|
| TREX | Trex Company, Inc.LUMBER & WOOD PRODUCTS (NO FURNITURE) | -0.34 |
| ZBH | Zimmer Biomet Holdings, Inc.ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES | -0.33 |
| NHTC | Natural Health Trends Corp.WHOLESALE-MISCELLANEOUS NONDURABLE GOODS | -0.29 |
| BHVN | Biohaven Ltd.PHARMACEUTICAL PREPARATIONS | -0.27 |
| PINS | Pinterest, Inc. Class A Common StockSERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. | -0.24 |
Frequently asked questions about NGL correlations
- Which stocks are most correlated with NGL?
- Based on one year of daily returns, the stocks most correlated with NGL ENERGY PARTNERS LP (NGL) are MTC (0.38), MLPR (0.36) and AMUB (0.36). 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 NGL?
- Over the past year, the stocks most inversely correlated with NGL ENERGY PARTNERS LP (NGL) are TREX (-0.34), ZBH (-0.33) and NHTC (-0.29). 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 NGL correlations calculated?
- We compute the correlation of daily returns between NGL 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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