CF vs DWSN: Correlation
CF Industries (CF) and Dawson Geophysical Company (DWSN) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CF and DWSN?
Over the past 3 years, CF and DWSN moved with a correlation of 0.34, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.49 versus 0.34 over 3 years. Over 5 years the correlation is 0.14, and the annualized covariance of weekly returns is 957.0 %².
Within CF's tracked universe of 50 assets, DWSN comes in at #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DWSN outperformed by 44.9 percentage points (+48.6% for CF against +93.5% for DWSN). Risk is not evenly split, since DWSN carries 2.6 times the volatility of the other side.
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.
CF vs DWSN: side by side
| CF (CF Industries) | DWSN (Dawson Geophysical Company) | |
|---|---|---|
| 1-year return | +48.6% | +93.5% |
| 5-year return | +211.5% | +93.2% |
| Volatility (ann.) | 32.8% | 86.8% |
| Beta vs S&P 500 | -0.20 | -0.14 |
| Max drawdown (3Y) | -29.2% | -64.3% |
| Market cap | $19.0B | $0.1B |
| P/E (trailing) | 9.3 | 27.1 |
| Dividend yield | 1.59% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | CF | DWSN |
|---|---|---|
| 2022 | +22.3% | -15.5% |
| 2023 | -4.7% | -6.6% |
| 2024 | +10.1% | -14.2% |
| 2025 | -7.2% | +16.4% |
| 2026 | +64.9% | +108.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CF and DWSN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CF and DWSN?
As of 2026-08-27, the correlation of weekly returns between CF and DWSN is 0.34 over 3 years, 0.49 over 1 year and 0.14 over 5 years.
Is DWSN a good diversifier for CF?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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/cf-vs-dwsn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cf-vs-dwsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CF correlations · DWSN correlations
