NFG vs PM: Correlation
National Fuel Gas Company (NFG) and Philip Morris International (PM) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NFG and PM?
Across a 3-year window, the weekly returns of NFG and PM correlate at 0.37, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.37 over 3. Stretching to 5 years gives 0.30, with an annualized covariance of 172.1 %².
Among the 13 assets we track against NFG, PM ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PM outperformed by 22.8 percentage points (-2.6% for NFG against +20.2% for PM).
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.
NFG vs PM: side by side
| NFG (National Fuel Gas Company) | PM (Philip Morris International) | |
|---|---|---|
| 1-year return | -2.6% | +20.2% |
| 5-year return | +87.6% | +133.5% |
| Volatility (ann.) | 20.0% | 23.1% |
| Beta vs S&P 500 | 0.10 | -0.01 |
| Max drawdown (3Y) | -20.9% | -20.6% |
| Market cap | $7.9B | $296.9B |
| P/E (trailing) | 11.6 | 26.7 |
| Dividend yield | 2.59% | 3.03% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | NFG | PM |
|---|---|---|
| 2022 | +1.9% | +12.3% |
| 2023 | -17.7% | -1.9% |
| 2024 | +25.4% | +34.3% |
| 2025 | +35.3% | +38.0% |
| 2026 | +4.8% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NFG and PM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NFG and PM?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.36 over the last year and 0.30 over 5 years.
Is PM a good diversifier for NFG?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nfg-vs-pm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nfg-vs-pm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NFG correlations · PM correlations
