CRK vs. UNG

Last updated Jun 3, 2026

CRK (Comstock Resources, Inc.) is a stock, while UNG (United States Natural Gas Fund LP) is Oil & Gas fund tracking the Front Month Natural Gas. Over the past 10 years, CRK returned 14.54%/yr vs -20.65%/yr for UNG. At a 0.32 correlation, their price movements are largely independent.

Performance

CRK vs. UNG - Performance Comparison

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

Returns By Period

In the year-to-date period, CRK achieves a -41.98% return, which is significantly lower than UNG's -6.44% return. Over the past 10 years, CRK has outperformed UNG with an annualized return of 14.54%, while UNG has yielded a comparatively lower -20.65% annualized return.

CRK

• 1D: 0.22%
• 1M: -22.52%
• YTD: -41.98%
• 6M: -46.96%
• 1Y: -43.34%
• 3Y*: 12.33%
• 5Y*: 17.82%
• 10Y*: 14.54%

UNG

• 1D: -0.61%
• 1M: 7.10%
• YTD: -6.44%
• 6M: -23.33%
• 1Y: -32.01%
• 3Y*: -21.73%
• 5Y*: -23.24%
• 10Y*: -20.65%

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

CRK vs. UNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CRK Comstock Resources, Inc.	-41.98%	27.22%	105.88%	-32.37%	70.63%	85.13%	-46.90%	81.68%	-46.45%	-14.11%
UNG United States Natural Gas Fund LP	-6.44%	-27.07%	-17.11%	-64.04%	12.89%	35.76%	-45.43%	-31.77%	5.96%	-37.58%

Correlation

The correlation between CRK and UNG is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Apr 19, 2007	0.32

The correlation between CRK and UNG shifts across timeframes, from 0.32 (all time) to 0.50 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CRK vs. UNG — Risk / Return Rank

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

CRK

CRK Risk / Return Rank: 12
CRK Sharpe Ratio Rank: 10
CRK Sortino Ratio Rank: 12
CRK Omega Ratio Rank: 13
CRK Calmar Ratio Rank: 13
CRK Martin Ratio Rank: 14

UNG

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

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.

CRK vs. UNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Comstock Resources, Inc. (CRK) 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.

	CRK	UNG	Difference
Sharpe ratio Return per unit of total volatility	-0.75	-0.53	-0.22
Sortino ratio Return per unit of downside risk	-0.89	-0.45	-0.44
Omega ratio Gain probability vs. loss probability	0.89	0.94	-0.05
Calmar ratio Return relative to maximum drawdown	-0.74	-0.62	-0.12
Martin ratio Return relative to average drawdown	-1.18	-0.91	-0.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRK vs. UNG - Sharpe Ratio Comparison

The current CRK Sharpe Ratio is -0.75, which is lower than the UNG Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of CRK 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.

Sharpe Ratios by Period

	CRK	UNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.75	-0.53	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	-0.36	+0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	-0.38	+0.59
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	-0.57	+0.55

Drawdowns

CRK vs. UNG - Drawdown Comparison

The maximum CRK drawdown since its inception was -99.32%, roughly equal to the maximum UNG drawdown of -99.88%. Use the drawdown chart below to compare losses from any high point for CRK and UNG.

Drawdown Indicators

	CRK	UNG	Difference
Max Drawdown Largest peak-to-trough decline	-99.32%	-99.88%	+0.56%
Max Drawdown (1Y) Largest decline over 1 year	-57.12%	-43.86%	-13.26%
Max Drawdown (3Y) Largest decline over 3 years	-57.12%	-68.16%	+11.04%
Max Drawdown (5Y) Largest decline over 5 years	-64.25%	-92.49%	+28.24%
Max Drawdown (10Y) Largest decline over 10 years	-68.63%	-93.55%	+24.92%
Current Drawdown Current decline from peak	-96.54%	-99.86%	+3.32%
Average Drawdown Average peak-to-trough decline	-62.61%	-89.96%	+27.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.84%	29.59%	+6.25%

Volatility

CRK vs. UNG - Volatility Comparison

Comstock Resources, Inc. (CRK) has a higher volatility of 19.59% compared to United States Natural Gas Fund LP (UNG) at 13.11%. This indicates that CRK's price experiences larger fluctuations and is considered to be riskier than UNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRK	UNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.59%	13.11%	+6.48%
Volatility (6M) Calculated over the trailing 6-month period	42.55%	53.02%	-10.47%
Volatility (1Y) Calculated over the trailing 1-year period	58.25%	60.90%	-2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.19%	64.09%	-5.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.67%	54.79%	+13.88%

Dividends

CRK vs. UNG - Dividend Comparison

Neither CRK nor UNG has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CRK Comstock Resources, Inc.	0.00%	0.00%	0.00%	5.65%	0.91%
UNG United States Natural Gas Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CRK and UNG in my portfolio?

CRK and UNG have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRK or UNG?

CRK has higher volatility (19.59%) compared to UNG (13.11%). In terms of maximum drawdown, CRK dropped -99.32% vs UNG's -99.88%.

Which has better risk-adjusted returns?

UNG currently has the higher Sharpe Ratio (-0.53 vs -0.75), 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.