CHRD vs GRNT: Correlation
Measured on weekly returns over the past three years, Chord Energy Corporation (CHRD) and Granite Ridge Resources, Inc. (GRNT) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and GRNT?
On 3 years of weekly data the CHRD/GRNT correlation comes out at 0.67, strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 933.6 %².
Within CHRD's tracked universe of 38 assets, GRNT comes in at #25 by 3-year correlation. The last year tells two different stories: CHRD led by 41.0 percentage points, +40.6% for CHRD against -0.4% for GRNT.
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 GRNT: side by side
| CHRD (Chord Energy Corporation) | GRNT (Granite Ridge Resources, Inc.) | |
|---|---|---|
| 1-year return | +40.6% | -0.4% |
| 5-year return | +164.0% | -31.9% |
| Volatility (ann.) | 35.4% | 39.2% |
| Beta vs S&P 500 | 0.34 | 0.55 |
| Max drawdown (3Y) | -53.9% | -36.8% |
| Market cap | $8.0B | $0.7B |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 3.71% | 8.80% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | GRNT |
|---|---|---|
| 2022 | +34.1% | -7.1% |
| 2023 | +31.7% | -28.5% |
| 2024 | -25.0% | +14.9% |
| 2025 | -16.4% | -21.3% |
| 2026 | +62.0% | +12.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and GRNT good diversifiers for each other?
Only partially. A correlation of 0.67 means CHRD and GRNT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CHRD and GRNT?
The CHRD/GRNT correlation stands at 0.67 on a 3-year window (1 year: 0.73, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is GRNT a good diversifier for CHRD?
Only partially. A correlation of 0.67 means CHRD and GRNT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chrd-vs-grnt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chrd-vs-grnt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHRD correlations · GRNT correlations
