uploads///SWN WU Correlation

Southwestern Energy Has a Higher Correlation with Natural Gas


Nov. 20 2020, Updated 4:42 p.m. ET

Southwestern Energy’s stock performance

As we discussed in the previous part, Southwestern Energy’s (SWN) stock price increased ~3% for the week ending March 16. However, natural gas (BOIL) prices moved down almost 2%. Southwestern Energy’s stock price outperformed natural gas prices last week. In this part, we’ll discuss the correlation between Southwestern Energy stock and natural gas prices.

Article continues below advertisement

Stock price correlations

For the week ending March 16, Southwestern Energy stock had a high correlation of ~79% with natural gas (UGAZ). Volatility in natural gas prices impacted Southwestern Energy’s stock price most of the days last week. The high correlation was also in line with Southwestern Energy’s production mix, which contained ~89% natural gas in 2017.

For the week ending March 16, Southwestern Energy’s correlation with crude oil was at ~1%. Movements in Southwestern Energy’s stock price were indifferent to price changes in crude oil.

Correlations in the past month

Southwestern Energy stock has shown correlations of ~70% and -29% with natural gas and crude oil prices, respectively, in the past month. Read Are Natural Gas Prices Breaking Down? to learn more.


More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.