BTE vs SU: Correlation
Baytex Energy Corp (BTE) and Suncor Energy Inc. (SU) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTE and SU?
On 3 years of weekly data the BTE/SU correlation comes out at 0.75, strong. The link has loosened recently: the 1-year correlation (0.64) runs below the 3-year figure (0.75). The 5-year figure is 0.75, and annualized covariance runs at 998.1 %².
Within BTE's tracked universe of 12 assets, SU comes in at #5 by 3-year correlation. The last year tells two different stories: BTE led by 58.5 percentage points, +122.8% for BTE against +64.3% for SU. One caveat on sizing: BTE is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BTE vs SU: side by side
| BTE (Baytex Energy Corp) | SU (Suncor Energy Inc.) | |
|---|---|---|
| 1-year return | +122.8% | +64.3% |
| 5-year return | +194.4% | +325.4% |
| Volatility (ann.) | 45.7% | 29.1% |
| Beta vs S&P 500 | 0.38 | 0.13 |
| Max drawdown (3Y) | -66.7% | -22.7% |
| Market cap | $3.4B | $78.4B |
| P/E (trailing) | – | 12.1 |
| Dividend yield | 1.92% | 3.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTE | SU |
|---|---|---|
| 2022 | +46.0% | +32.3% |
| 2023 | -25.7% | +6.0% |
| 2024 | -20.6% | +16.2% |
| 2025 | +27.3% | +27.1% |
| 2026 | +50.3% | +51.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTE and SU good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTE and SU?
The BTE/SU correlation stands at 0.75 on a 3-year window (1 year: 0.64, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is SU a good diversifier for BTE?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
A reading of 0.75 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/bte-vs-su.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bte-vs-su/)
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Related comparisons
Hubs: BTE correlations · SU correlations
