Get Market News

Get weekly email updates on market factors like supply, demand, and regulatory affairs. Subscribe now

Get Started with ENGIE

ENGIE Resources is ready to analyze your historical electricity usage data and present appropriate options. Request now

Become a Broker or Consultant

Complete our Brokers & Consultants Inquiry Form. Learn more

Commodity Correlations: Nat Gas With Aluminum, Against Gold

January 10, 2020

Correlation Matrix

According to a correlation matrix from the EIA and the S&P Goldman Sachs Commodity Index, natural gas prices have two relatively strong coefficients to other commodities. Natural gas has a .68 positive correlation to aluminum and a -.63 relationship to gold. U.S. production of aluminum has been falling steadily since 2006 and the value of gold has been increasing.

Read More