AROC vs NGS: Correlation
How closely do Archrock, Inc. (AROC) and Natural Gas Services Group, Inc. (NGS) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AROC and NGS?
Across a 3-year window, the weekly returns of AROC and NGS correlate at 0.67, strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.59, with an annualized covariance of 1098.3 %².
In AROC's tracked universe of 17 assets, NGS sits right near the top at #3. Their 12-month results are close: +34.4% for AROC against +37.9% for NGS.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AROC vs NGS: side by side
| AROC (Archrock, Inc.) | NGS (Natural Gas Services Group, Inc.) | |
|---|---|---|
| 1-year return | +34.4% | +37.9% |
| 5-year return | +420.1% | +274.7% |
| Volatility (ann.) | 36.3% | 45.0% |
| Beta vs S&P 500 | 0.87 | 0.87 |
| Max drawdown (3Y) | -30.3% | -40.9% |
| Market cap | $5.6B | $0.5B |
| P/E (trailing) | 17.0 | 21.7 |
| Dividend yield | 2.78% | 1.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AROC | NGS |
|---|---|---|
| 2022 | +28.8% | +9.5% |
| 2023 | +81.0% | +40.3% |
| 2024 | +67.6% | +66.7% |
| 2025 | +8.0% | +26.5% |
| 2026 | +25.6% | +6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AROC and NGS good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AROC and NGS?
The AROC/NGS correlation stands at 0.67 on a 3-year window (1 year: 0.73, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is NGS a good diversifier for AROC?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aroc-vs-ngs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aroc-vs-ngs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AROC correlations · NGS correlations
