CHRD vs COP: Correlation
Measured on weekly returns over the past three years, Chord Energy Corporation (CHRD) and ConocoPhillips (COP) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and COP?
Over the past 3 years, CHRD and COP moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.87 lands near the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 864.4 %².
By 3-year correlation, COP places #4 of the 38 assets tracked against CHRD. Their 12-month results are close: +40.6% for CHRD against +36.5% for COP.
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.
CHRD vs COP: side by side
| CHRD (Chord Energy Corporation) | COP (ConocoPhillips) | |
|---|---|---|
| 1-year return | +40.6% | +36.5% |
| 5-year return | +164.0% | +175.2% |
| Volatility (ann.) | 35.4% | 29.1% |
| Beta vs S&P 500 | 0.34 | 0.25 |
| Max drawdown (3Y) | -53.9% | -36.3% |
| Market cap | $8.0B | $155.6B |
| P/E (trailing) | 9.5 | 17.3 |
| Dividend yield | 3.71% | 2.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | CHRD | COP |
|---|---|---|
| 2022 | +34.1% | +71.7% |
| 2023 | +31.7% | +2.0% |
| 2024 | -25.0% | -12.2% |
| 2025 | -16.4% | -2.3% |
| 2026 | +62.0% | +41.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and COP good diversifiers for each other?
No. With a correlation of 0.84, CHRD and COP move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CHRD and COP?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.87 over the last year and 0.80 over 5 years.
Is COP a good diversifier for CHRD?
No. With a correlation of 0.84, CHRD and COP move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 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.
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Related comparisons
Hubs: CHRD correlations · COP correlations
