BP vs DVN: Correlation
Measured on weekly returns over the past three years, BP p.l.c. (BP) and Devon Energy (DVN) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BP and DVN?
Over the past 3 years, BP and DVN moved with a correlation of 0.75, which is strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 679.6 %².
Few assets follow BP as closely as DVN, which ranks #3 of 26 tracked partners. On 12-month performance DVN holds a 8.3-point edge, +27.6% against +35.9%.
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.
BP vs DVN: side by side
| BP (BP p.l.c.) | DVN (Devon Energy) | |
|---|---|---|
| 1-year return | +27.6% | +35.9% |
| 5-year return | +119.9% | +102.7% |
| Volatility (ann.) | 26.6% | 34.3% |
| Beta vs S&P 500 | 0.06 | 0.16 |
| Max drawdown (3Y) | -30.6% | -49.2% |
| Market cap | $109.0B | $51.8B |
| P/E (trailing) | 20.3 | 10.2 |
| Dividend yield | 0.79% | 2.22% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | BP | DVN |
|---|---|---|
| 2022 | +37.0% | +50.9% |
| 2023 | +6.0% | -21.8% |
| 2024 | -11.8% | -25.2% |
| 2025 | +24.5% | +15.0% |
| 2026 | +26.4% | +30.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BP and DVN good diversifiers for each other?
To a limited degree. At 0.75 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 BP and DVN?
The BP/DVN correlation stands at 0.75 on a 3-year window (1 year: 0.77, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is DVN a good diversifier for BP?
To a limited degree. At 0.75 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 0.75 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bp-vs-dvn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bp-vs-dvn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BP correlations · DVN correlations
