APA vs BND: Correlation
How closely do APA Corporation (APA) and Vanguard Total Bond Market ETF (BND) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and BND?
Over the past 3 years, APA and BND moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.47) than the 3-year average (-0.23). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -50.8 %².
Among the 43 assets we track against APA, BND ranks #36 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months APA outperformed by 91.8 percentage points (+94.1% for APA against +2.3% for BND). The relationship is regime-dependent: the rolling one-year correlation swung between -0.50 and 0.07 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since APA carries 8.0 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.
APA vs BND: side by side
| APA (APA Corporation) | BND (Vanguard Total Bond Market ETF) | |
|---|---|---|
| 1-year return | +94.1% | +2.3% |
| 5-year return | +164.2% | -1.3% |
| Volatility (ann.) | 41.8% | 5.2% |
| Beta vs S&P 500 | 0.38 | 0.06 |
| Max drawdown (3Y) | -67.4% | -4.7% |
| Market cap | $14.8B | – |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 2.43% | – |
| Sector / category | Energy | ETF · Bonds |
Year-by-year returns
| Year | APA | BND |
|---|---|---|
| 2022 | +76.4% | -13.1% |
| 2023 | -21.2% | +5.7% |
| 2024 | -33.4% | +1.4% |
| 2025 | +11.5% | +7.1% |
| 2026 | +77.3% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and BND good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between APA and BND?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.47 over the last year and -0.14 over 5 years.
Is BND a good diversifier for APA?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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/apa-vs-bnd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apa-vs-bnd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APA correlations · BND correlations
