Southwestern Energy’s stock performance

As we discussed in the previous part of this series, Southwestern Energy’s (SWN) stock price rose ~4.9% for the week ending December 29. Even natural gas (UGAZ) (DGAZ) (UNG) prices moved to the upside strongly by ~11.1%. So, it’s clear that Southwestern Energy’s stock price followed natural gas prices to the upside last week. In this part, we’ll discuss the correlation between Southwestern Energy stock and natural gas prices.

Southwestern Energy Followed Natural Gas to the Upside Last Week

Stock price correlations

For the week ending December 29, Southwestern Energy stock had a high correlation of ~78% with natural gas (BOIL) (DGAZ). Volatility in natural gas prices impacted Southwestern Energy’s stock price most of the days last week. It’s also in line with Southwestern Energy’s production mix which contains almost ~90% natural gas.

For the week ending December 29, Southwestern Energy’s correlation with crude oil (SCO) (USO) and the SPDR S&P 500 ETF (SPY) was at ~11% and 42%. Southwestern Energy’s stock price wasn’t impacted much by the movements in crude oil (UCO) and SPY.

Correlations in the past month

Southwestern Energy’s stock price had correlations of -4%, ~90%, and -67% with natural gas (UGAZ), crude oil (SCO), and SPY’s prices, respectively, in the past month.

To learn more about natural gas–weighted stocks, read Natural Gas Inventory Data: Natural Gas–Weighted Stocks to Watch.

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