EFXT vs NGS: Correlation
Enerflex Ltd (EFXT) and Natural Gas Services Group, Inc. (NGS) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFXT and NGS?
Across a 3-year window, the weekly returns of EFXT and NGS correlate at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 933.6 %².
By 3-year correlation, NGS places #5 of the 10 assets tracked against EFXT. Correlation aside, the last 12 months split them widely, with EFXT ahead by 75.8 points (+113.7% versus +37.9%).
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.
EFXT vs NGS: side by side
| EFXT (Enerflex Ltd) | NGS (Natural Gas Services Group, Inc.) | |
|---|---|---|
| 1-year return | +113.7% | +37.9% |
| 5-year return | +257.3% | +274.7% |
| Volatility (ann.) | 44.8% | 45.0% |
| Beta vs S&P 500 | 0.65 | 0.87 |
| Max drawdown (3Y) | -38.6% | -40.9% |
| Market cap | $2.5B | $0.5B |
| P/E (trailing) | 45.2 | 21.7 |
| Dividend yield | 0.61% | 1.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFXT | NGS |
|---|---|---|
| 2022 | +5.8% | +9.5% |
| 2023 | -25.1% | +40.3% |
| 2024 | +115.8% | +66.7% |
| 2025 | +56.2% | +26.5% |
| 2026 | +35.3% | +6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFXT and NGS good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EFXT and NGS?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.50 over the last year and 0.41 over 5 years.
Is NGS a good diversifier for EFXT?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 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/efxt-vs-ngs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/efxt-vs-ngs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EFXT correlations · NGS correlations
