APA vs CRGY: Correlation
How closely do APA Corporation (APA) and Crescent Energy Company (CRGY) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and CRGY?
On 3 years of weekly data the APA/CRGY correlation comes out at 0.77, strong. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 1568.0 %².
Among the 43 assets we track against APA, CRGY ranks #12 by 3-year correlation. The last year tells two different stories: APA led by 41.0 percentage points, +94.1% for APA against +53.1% for CRGY.
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 CRGY: side by side
| APA (APA Corporation) | CRGY (Crescent Energy Company) | |
|---|---|---|
| 1-year return | +94.1% | +53.1% |
| 5-year return | +164.2% | -0.0% |
| Volatility (ann.) | 41.8% | 48.9% |
| Beta vs S&P 500 | 0.38 | 0.81 |
| Max drawdown (3Y) | -67.4% | -55.9% |
| Market cap | $14.8B | $5.4B |
| P/E (trailing) | 8.7 | 170.6 |
| Dividend yield | 2.43% | 3.59% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | APA | CRGY |
|---|---|---|
| 2022 | +76.4% | -1.5% |
| 2023 | -21.2% | +15.6% |
| 2024 | -33.4% | +15.2% |
| 2025 | +11.5% | -39.6% |
| 2026 | +77.3% | +67.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and CRGY good diversifiers for each other?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between APA and CRGY?
The APA/CRGY correlation stands at 0.77 on a 3-year window (1 year: 0.77, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is CRGY a good diversifier for APA?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.77 mean?
On the −1 to +1 scale, 0.77 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-crgy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apa-vs-crgy/)
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Related comparisons
Hubs: APA correlations · CRGY correlations
