NFG vs RDZN: Correlation
National Fuel Gas Company (NFG) and Roadzen, Inc. (RDZN) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NFG and RDZN?
Across a 3-year window, the weekly returns of NFG and RDZN correlate at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.29). Stretching to 5 years gives -0.21, with an annualized covariance of -716.3 %².
RDZN is close to the least connected end of NFG's tracked universe, ranking #13 of 13. The last year tells two different stories: RDZN led by 53.1 percentage points, -2.6% for NFG against +50.5% for RDZN. One caveat on sizing: RDZN is 6.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RDZN: side by side
| NFG (National Fuel Gas Company) | RDZN (Roadzen, Inc.) | |
|---|---|---|
| 1-year return | -2.6% | +50.5% |
| 5-year return | +87.6% | -84.9% |
| Volatility (ann.) | 20.0% | 122.6% |
| Beta vs S&P 500 | 0.10 | 1.57 |
| Max drawdown (3Y) | -20.9% | -94.0% |
| Market cap | $7.9B | $0.1B |
| P/E (trailing) | 11.6 | 6.8 |
| Dividend yield | 2.59% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NFG | RDZN |
|---|---|---|
| 2022 | +1.9% | – |
| 2023 | -17.7% | -50.3% |
| 2024 | +25.4% | -57.2% |
| 2025 | +35.3% | +10.6% |
| 2026 | +4.8% | -38.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NFG and RDZN good diversifiers for each other?
Yes. With a correlation of -0.29, NFG and RDZN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NFG and RDZN?
As of 2026-08-27, the correlation of weekly returns between NFG and RDZN is -0.29 over 3 years, -0.40 over 1 year and -0.21 over 5 years.
Is RDZN a good diversifier for NFG?
Yes. With a correlation of -0.29, NFG and RDZN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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-rdzn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nfg-vs-rdzn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NFG correlations · RDZN correlations
