Tortoise Energy ETF (TNGY) — Stock Correlations & Overview
Over the past year, TNGY has moved most closely with NBET, RSPG, FTXN. Explore the stocks most correlated and inversely correlated with TNGY below, along with its price, financials, and company profile.
Stocks correlated with TNGY
Correlation of daily returns. Higher positive values move with TNGY; negative values move opposite it. Informational only, not investment advice.
Most correlated with TNGY
| Symbol | Company | Correlation |
|---|---|---|
| NBET | Neuberger Energy Transition & Infrastructure ETF | 0.84 |
| RSPG | Invesco S&P 500 Equal Weight Energy ETF | 0.83 |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 0.83 |
| PXI | Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Energy Momentum ETF | 0.82 |
| OILU | MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETNCOMMERCIAL BANKS, NEC | 0.81 |
Most inversely correlated with TNGY
| Symbol | Company | Correlation |
|---|---|---|
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.81 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.80 |
| DUG | ProShares UltraShort Energy | -0.80 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.79 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.78 |
Frequently asked questions about TNGY correlations
- Which stocks are most correlated with TNGY?
- Based on one year of daily returns, the stocks most correlated with Tortoise Energy ETF (TNGY) are NBET (0.84), RSPG (0.83) and FTXN (0.83). 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 TNGY?
- Over the past year, the stocks most inversely correlated with Tortoise Energy ETF (TNGY) are OILD (-0.81), DRIP (-0.80) and DUG (-0.80). 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 TNGY correlations calculated?
- We compute the correlation of daily returns between TNGY 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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