These Natural-Gas-Weighted Stocks Are Following Natural Gas Prices
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However, forecasts of cooler weather ahead may help natural gas rise. In the past five trading sessions, natural gas active futures rose 1.1%, while US crude oil active futures fell 1%. Over this period, the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) fell 0.2% and 0.5%. Oil returns in negative territory could be a greater concern for broader markets.
Natural-gas-weighted stocks that could closely follow natural gas based on their trailing week correlations with natural gas are:
- Range Resources (RRC): 65.9%
- Southwestern Energy Company (SWN): 63.3%
- WPX Energy (WPX): 53.6%
- EQT Corp (EQT): 51.7%
Natural-gas-weighted stocks that could be least affected by natural gas’s movements based on trailing week correlations are:
We have used natural-gas-weighted stocks from the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) after applying a filter to select only those with production mixes of at least 60% in natural gas.