BKV vs. UNG

Last updated Jun 24, 2026

BKV (BKV Corp) is a stock, while UNG (United States Natural Gas Fund LP) is Oil & Gas fund tracking the Front Month Natural Gas Futures. Over the past year, BKV returned 6.21% vs -31.71% for UNG. At a 0.26 correlation, their price movements are largely independent.

Performance

BKV vs. UNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BKV Corp (BKV) and United States Natural Gas Fund LP (UNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BKV having a -6.11% return and UNG slightly lower at -6.20%.

BKV

• 1D: -0.78%
• 1M: -9.90%
• YTD: -6.11%
• 6M: -8.31%
• 1Y: 6.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UNG

• 1D: -2.29%
• 1M: 5.12%
• YTD: -6.20%
• 6M: -10.85%
• 1Y: -31.71%
• 3Y*: -27.52%
• 5Y*: -24.87%
• 10Y*: -21.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BKV vs. UNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BKV BKV Corp	-6.11%	14.17%	28.19%
UNG United States Natural Gas Fund LP	-6.20%	-27.07%	6.06%

Correlation

The correlation between BKV and UNG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024	0.26

Return for Risk

BKV vs. UNG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BKV

BKV Risk / Return Rank: 47
BKV Sharpe Ratio Rank: 48
BKV Sortino Ratio Rank: 44
BKV Omega Ratio Rank: 43
BKV Calmar Ratio Rank: 49
BKV Martin Ratio Rank: 49

UNG

UNG Risk / Return Rank: 4
UNG Sharpe Ratio Rank: 5
UNG Sortino Ratio Rank: 5
UNG Omega Ratio Rank: 5
UNG Calmar Ratio Rank: 2
UNG Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BKV vs. UNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BKV Corp (BKV) and United States Natural Gas Fund LP (UNG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BKV	UNG	Difference
Sharpe ratio: Return per unit of total volatility	0.14	-0.53	+0.67
Sortino ratio: Return per unit of downside risk	0.50	-0.45	+0.95
Omega ratio: Gain probability vs. loss probability	1.06	0.94	+0.12
Calmar ratio: Return relative to maximum drawdown	0.25	-0.80	+1.05
Martin ratio: Return relative to average drawdown	0.58	-1.25	+1.83

BKV vs. UNG - Sharpe Ratio Comparison

The current BKV Sharpe Ratio is 0.14, which is higher than the UNG Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of BKV and UNG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BKV vs. UNG - Drawdown Comparison

The maximum BKV drawdown since its inception was -39.98%, smaller than the maximum UNG drawdown of -99.88%. Use the drawdown chart below to compare losses from any high point for BKV and UNG.

Drawdown Indicators

	BKV	UNG	Difference
Max Drawdown Largest peak-to-trough decline	-39.98%	-99.88%	+59.90%
Max Drawdown (1Y) Largest decline over 1 year	-24.97%	-39.94%	+14.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-68.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-92.49%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-93.55%	—
Current Drawdown Current decline from peak	-20.74%	-99.86%	+79.12%
Average Drawdown Average peak-to-trough decline	-11.68%	-89.97%	+78.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.65%	26.12%	-15.47%

Volatility

BKV vs. UNG - Volatility Comparison

The current volatility for BKV Corp (BKV) is 10.62%, while United States Natural Gas Fund LP (UNG) has a volatility of 12.10%. This indicates that BKV experiences smaller price fluctuations and is considered to be less risky than UNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKV	UNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.62%	12.10%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	26.53%	50.87%	-24.34%
Volatility (1Y) Calculated over the trailing 1-year period	43.66%	60.39%	-16.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.33%	64.14%	-20.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.33%	54.80%	-11.47%

Dividends

BKV vs. UNG - Dividend Comparison

Neither BKV nor UNG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BKV and UNG in my portfolio?

BKV and UNG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKV or UNG?

UNG has higher volatility (12.10%) compared to BKV (10.62%). In terms of maximum drawdown, BKV dropped -39.98% vs UNG's -99.88%.

Which has better risk-adjusted returns?

BKV currently has the higher Sharpe Ratio (0.14 vs -0.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.