CHRD vs EQNR: Correlation
Measured on weekly returns over the past three years, Chord Energy Corporation (CHRD) and Equinor ASA (EQNR) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and EQNR?
Across a 3-year window, the weekly returns of CHRD and EQNR correlate at 0.71, strong. The link has tightened recently: the 1-year correlation (0.81) runs above the 3-year figure (0.71). Stretching to 5 years gives 0.63, with an annualized covariance of 832.3 %².
Within CHRD's tracked universe of 38 assets, EQNR comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EQNR ahead by 36.6 points (+40.6% versus +77.2%).
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 EQNR: side by side
| CHRD (Chord Energy Corporation) | EQNR (Equinor ASA) | |
|---|---|---|
| 1-year return | +40.6% | +77.2% |
| 5-year return | +164.0% | +180.6% |
| Volatility (ann.) | 35.4% | 33.2% |
| Beta vs S&P 500 | 0.34 | -0.25 |
| Max drawdown (3Y) | -53.9% | -27.6% |
| Market cap | $8.0B | $98.6B |
| P/E (trailing) | 9.5 | 11.2 |
| Dividend yield | 3.71% | 3.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | EQNR |
|---|---|---|
| 2022 | +34.1% | +42.8% |
| 2023 | +31.7% | -0.8% |
| 2024 | -25.0% | -16.0% |
| 2025 | -16.4% | +6.1% |
| 2026 | +62.0% | +81.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and EQNR good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CHRD and EQNR?
The CHRD/EQNR correlation stands at 0.71 on a 3-year window (1 year: 0.81, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is EQNR a good diversifier for CHRD?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
A reading of 0.71 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/chrd-vs-eqnr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chrd-vs-eqnr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHRD correlations · EQNR correlations
