Southwestern Energy’s stock performance
As we saw in the previous part of this series, Southwestern Energy’s (SWN) stock price increased ~6.0% for the week ended June 15. During the week, natural gas (BOIL) prices rose 5.0%. So, SWN’s stock price outperformed natural gas prices last week. In this part, we’ll look at the correlation between SWN stock and natural gas prices.
Southwestern Energy’s stock price correlations
During the week ended June 15, Southwestern Energy (SWN) stock had a correlation of 34.0% with natural gas. In other words, the volatility in natural gas prices impacted SWN’s stock price during a few days last week. This was evident on Monday, June 11, when SWN rose ~4.0% and natural gas increased ~2.0%.
Among the natural gas–weighted stocks, Gulfport Energy (GPOR), Consol Resources (CNX), and Range Resources (RRC) had correlations of -14.0%, -95.0% and -59.0%, respectively, with natural gas in the last week.
Last week, Southwestern Energy’s correlation with crude oil was 33.0%. As a result, movements in SWN’s stock price were moderately in sync with changes in crude oil prices.
Southwestern Energy’s correlations over last month
Southwestern Energy (SWN) stock has shown correlations of 42.0% and -50.0% with natural gas and crude oil prices, respectively, over the last month. Typically, SWN’s stock price is more influenced by changes in natural gas prices than crude oil prices.
SWN’s 2017 production mix contained ~89.0% natural gas. To read more about natural gas and natural gas–weighted stocks, please read What’s Driving Natural Gas Prices?