CHRD vs DVN: Correlation
Chord Energy Corporation (CHRD) and Devon Energy (DVN) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and DVN?
Across a 3-year window, the weekly returns of CHRD and DVN correlate at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 995.5 %².
Within CHRD's tracked universe of 38 assets, DVN comes in at #8 by 3-year correlation. Twelve-month performance is nearly a tie, at +40.6% for CHRD and +35.9% for DVN.
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 DVN: side by side
| CHRD (Chord Energy Corporation) | DVN (Devon Energy) | |
|---|---|---|
| 1-year return | +40.6% | +35.9% |
| 5-year return | +164.0% | +102.7% |
| Volatility (ann.) | 35.4% | 34.3% |
| Beta vs S&P 500 | 0.34 | 0.16 |
| Max drawdown (3Y) | -53.9% | -49.2% |
| Market cap | $8.0B | $51.8B |
| P/E (trailing) | 9.5 | 10.2 |
| Dividend yield | 3.71% | 2.22% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | CHRD | DVN |
|---|---|---|
| 2022 | +34.1% | +50.9% |
| 2023 | +31.7% | -21.8% |
| 2024 | -25.0% | -25.2% |
| 2025 | -16.4% | +15.0% |
| 2026 | +62.0% | +30.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and DVN good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CHRD and DVN?
As of 2026-08-27, the correlation of weekly returns between CHRD and DVN is 0.82 over 3 years, 0.82 over 1 year and 0.78 over 5 years.
Is DVN a good diversifier for CHRD?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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/chrd-vs-dvn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/chrd-vs-dvn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHRD correlations · DVN correlations
