BTE vs VET: Correlation
Baytex Energy Corp (BTE) and Vermilion Energy Inc. Common (Canada) (VET) 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 BTE and VET?
Across a 3-year window, the weekly returns of BTE and VET correlate at 0.78, strong. The link has loosened recently: the 1-year correlation (0.65) runs below the 3-year figure (0.78). Stretching to 5 years gives 0.75, with an annualized covariance of 1555.4 %².
Few assets follow BTE as closely as VET, which ranks #2 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with BTE ahead by 54.4 points (+122.8% versus +68.4%).
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 VET: side by side
| BTE (Baytex Energy Corp) | VET (Vermilion Energy Inc. Common (Canada)) | |
|---|---|---|
| 1-year return | +122.8% | +68.4% |
| 5-year return | +194.4% | +115.2% |
| Volatility (ann.) | 45.7% | 43.6% |
| Beta vs S&P 500 | 0.38 | 0.31 |
| Max drawdown (3Y) | -66.7% | -63.4% |
| Market cap | $3.4B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 1.92% | 4.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTE | VET |
|---|---|---|
| 2022 | +46.0% | +42.1% |
| 2023 | -25.7% | -30.3% |
| 2024 | -20.6% | -19.4% |
| 2025 | +27.3% | -9.1% |
| 2026 | +50.3% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTE and VET good diversifiers for each other?
To a limited degree. At 0.78 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 BTE and VET?
As of 2026-08-27, the correlation of weekly returns between BTE and VET is 0.78 over 3 years, 0.65 over 1 year and 0.75 over 5 years.
Is VET a good diversifier for BTE?
To a limited degree. At 0.78 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 0.78 mean?
On the −1 to +1 scale, 0.78 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.
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Related comparisons
Hubs: BTE correlations · VET correlations
