CF vs EOG: Correlation
Measured on weekly returns over the past three years, CF Industries (CF) and EOG Resources (EOG) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CF and EOG?
On 3 years of weekly data the CF/EOG correlation comes out at 0.58, moderate. The past 12 months show a tighter link (0.73) than the 3-year average (0.58). The 5-year figure is 0.53, and annualized covariance runs at 535.8 %².
Within CF's tracked universe of 50 assets, EOG comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CF ahead by 26.9 points (+48.6% versus +21.7%). Across three years, the rolling one-year figure varied moderately, from 0.37 to 0.71.
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 EOG: side by side
| CF (CF Industries) | EOG (EOG Resources) | |
|---|---|---|
| 1-year return | +48.6% | +21.7% |
| 5-year return | +211.5% | +171.5% |
| Volatility (ann.) | 32.8% | 28.1% |
| Beta vs S&P 500 | -0.20 | 0.14 |
| Max drawdown (3Y) | -29.2% | -23.7% |
| Market cap | $19.0B | $75.8B |
| P/E (trailing) | 9.3 | 11.3 |
| Dividend yield | 1.59% | 2.82% |
| Sector / category | Materials | Energy |
Year-by-year returns
| Year | CF | EOG |
|---|---|---|
| 2022 | +22.3% | +56.9% |
| 2023 | -4.7% | -2.0% |
| 2024 | +10.1% | +4.3% |
| 2025 | -7.2% | -11.4% |
| 2026 | +64.9% | +41.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CF and EOG good diversifiers for each other?
To a limited degree. At 0.58 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 CF and EOG?
As of 2026-08-27, the correlation of weekly returns between CF and EOG is 0.58 over 3 years, 0.73 over 1 year and 0.53 over 5 years.
Is EOG a good diversifier for CF?
To a limited degree. At 0.58 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 0.58 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/cf-vs-eog.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cf-vs-eog/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CF correlations · EOG correlations
