APA vs MUR: Correlation
APA Corporation (APA) and Murphy Oil Corporation (MUR) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and MUR?
Across a 3-year window, the weekly returns of APA and MUR correlate at 0.78, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.78 over 3. Stretching to 5 years gives 0.80, with an annualized covariance of 1289.7 %².
Within APA's tracked universe of 43 assets, MUR comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with APA ahead by 42.4 points (+94.1% versus +51.7%).
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 MUR: side by side
| APA (APA Corporation) | MUR (Murphy Oil Corporation) | |
|---|---|---|
| 1-year return | +94.1% | +51.7% |
| 5-year return | +164.2% | +96.7% |
| Volatility (ann.) | 41.8% | 39.7% |
| Beta vs S&P 500 | 0.38 | 0.16 |
| Max drawdown (3Y) | -67.4% | -58.5% |
| Market cap | $14.8B | $5.2B |
| P/E (trailing) | 8.7 | 17.2 |
| Dividend yield | 2.43% | 3.89% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | APA | MUR |
|---|---|---|
| 2022 | +76.4% | +68.5% |
| 2023 | -21.2% | +2.0% |
| 2024 | -33.4% | -26.8% |
| 2025 | +11.5% | +8.7% |
| 2026 | +77.3% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and MUR good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APA and MUR?
The APA/MUR correlation stands at 0.78 on a 3-year window (1 year: 0.72, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is MUR a good diversifier for APA?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 mean?
A reading of 0.78 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-mur.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apa-vs-mur/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APA correlations · MUR correlations
