APA vs EOG: Correlation
How closely do APA Corporation (APA) and EOG Resources (EOG) 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 EOG?
Across a 3-year window, the weekly returns of APA and EOG correlate at 0.77, strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. Stretching to 5 years gives 0.81, with an annualized covariance of 907.3 %².
Within APA's tracked universe of 43 assets, EOG comes in at #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months APA outperformed by 72.4 percentage points (+94.1% for APA against +21.7% for EOG). The link looks structural: the rolling one-year correlation barely moved, holding between 0.64 and 0.87.
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 EOG: side by side
| APA (APA Corporation) | EOG (EOG Resources) | |
|---|---|---|
| 1-year return | +94.1% | +21.7% |
| 5-year return | +164.2% | +171.5% |
| Volatility (ann.) | 41.8% | 28.1% |
| Beta vs S&P 500 | 0.38 | 0.14 |
| Max drawdown (3Y) | -67.4% | -23.7% |
| Market cap | $14.8B | $75.8B |
| P/E (trailing) | 8.7 | 11.3 |
| Dividend yield | 2.43% | 2.82% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | APA | EOG |
|---|---|---|
| 2022 | +76.4% | +56.9% |
| 2023 | -21.2% | -2.0% |
| 2024 | -33.4% | +4.3% |
| 2025 | +11.5% | -11.4% |
| 2026 | +77.3% | +41.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and EOG good diversifiers for each other?
Only partially. A correlation of 0.77 means APA and EOG 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 APA and EOG?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.78 over the last year and 0.81 over 5 years.
Is EOG a good diversifier for APA?
Only partially. A correlation of 0.77 means APA and EOG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 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-eog.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apa-vs-eog/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APA correlations · EOG correlations
