TXO Partners, L.P. (TXO) — Stock Correlations & Overview
Over the past year, TXO has moved most closely with FCG, CVE, OILT. Explore the stocks most correlated and inversely correlated with TXO below, along with its price, financials, and company profile.
Stocks correlated with TXO
Correlation of daily returns. Higher positive values move with TXO; negative values move opposite it. Informational only, not investment advice.
Most correlated with TXO
| Symbol | Company | Correlation |
|---|---|---|
| FCG | First Trust Natural Gas ETF | 0.59 |
| CVE | Cenovus Energy Inc. | 0.58 |
| OILT | Texas Capital Texas Oil Index ETF | 0.58 |
| KRP | Kimbell Royalty Partners, LP Common Units representing Limited Partner InterestsCRUDE PETROLEUM & NATURAL GAS | 0.58 |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 0.57 |
Most inversely correlated with TXO
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.56 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.55 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.55 |
| DUG | ProShares UltraShort Energy | -0.54 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.54 |
Frequently asked questions about TXO correlations
- Which stocks are most correlated with TXO?
- Based on one year of daily returns, the stocks most correlated with TXO Partners, L.P. (TXO) are FCG (0.59), CVE (0.58) and OILT (0.58). 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 TXO?
- Over the past year, the stocks most inversely correlated with TXO Partners, L.P. (TXO) are DRIP (-0.56), OILD (-0.55) and ERY (-0.55). 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 TXO correlations calculated?
- We compute the correlation of daily returns between TXO 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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