APA vs CHRD: Correlation
Measured on weekly returns over the past three years, APA Corporation (APA) and Chord Energy Corporation (CHRD) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and CHRD?
On 3 years of weekly data the APA/CHRD correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.81 over 3. The 5-year figure is 0.78, and annualized covariance runs at 1192.7 %².
Among the 43 assets we track against APA, CHRD ranks #4 by 3-year correlation. The last year tells two different stories: APA led by 53.5 percentage points, +94.1% for APA against +40.6% for CHRD.
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 CHRD: side by side
| APA (APA Corporation) | CHRD (Chord Energy Corporation) | |
|---|---|---|
| 1-year return | +94.1% | +40.6% |
| 5-year return | +164.2% | +164.0% |
| Volatility (ann.) | 41.8% | 35.4% |
| Beta vs S&P 500 | 0.38 | 0.34 |
| Max drawdown (3Y) | -67.4% | -53.9% |
| Market cap | $14.8B | $8.0B |
| P/E (trailing) | 8.7 | 9.5 |
| Dividend yield | 2.43% | 3.71% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | APA | CHRD |
|---|---|---|
| 2022 | +76.4% | +34.1% |
| 2023 | -21.2% | +31.7% |
| 2024 | -33.4% | -25.0% |
| 2025 | +11.5% | -16.4% |
| 2026 | +77.3% | +62.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and CHRD good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between APA and CHRD?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.83 over the last year and 0.78 over 5 years.
Is CHRD a good diversifier for APA?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
On the −1 to +1 scale, 0.81 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/apa-vs-chrd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apa-vs-chrd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APA correlations · CHRD correlations
