AMPY vs DVN: Correlation
How closely do Amplify Energy Corp. (AMPY) and Devon Energy (DVN) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMPY and DVN?
On 3 years of weekly data the AMPY/DVN correlation comes out at 0.63, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 1210.0 %².
Among the 12 assets we track against AMPY, DVN ranks #4 by 3-year correlation. The last year tells two different stories: DVN led by 20.2 percentage points, +15.7% for AMPY against +35.9% for DVN. Risk is not evenly split, since AMPY carries 1.6 times the volatility of the other side.
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.
AMPY vs DVN: side by side
| AMPY (Amplify Energy Corp.) | DVN (Devon Energy) | |
|---|---|---|
| 1-year return | +15.7% | +35.9% |
| 5-year return | +30.1% | +102.7% |
| Volatility (ann.) | 56.4% | 34.3% |
| Beta vs S&P 500 | 0.28 | 0.16 |
| Max drawdown (3Y) | -71.1% | -49.2% |
| Market cap | $0.2B | $51.8B |
| P/E (trailing) | 9.1 | 10.2 |
| Dividend yield | 0.00% | 2.22% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | AMPY | DVN |
|---|---|---|
| 2022 | +182.6% | +50.9% |
| 2023 | -32.5% | -21.8% |
| 2024 | +1.2% | -25.2% |
| 2025 | -23.8% | +15.0% |
| 2026 | +3.1% | +30.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMPY and DVN good diversifiers for each other?
Only partially. A correlation of 0.63 means AMPY and DVN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMPY and DVN?
The AMPY/DVN correlation stands at 0.63 on a 3-year window (1 year: 0.62, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is DVN a good diversifier for AMPY?
Only partially. A correlation of 0.63 means AMPY and DVN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ampy-vs-dvn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ampy-vs-dvn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMPY correlations · DVN correlations
