CHRD vs HPK: Correlation
How closely do Chord Energy Corporation (CHRD) and HighPeak Energy, Inc. (HPK) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and HPK?
Across a 3-year window, the weekly returns of CHRD and HPK correlate at 0.67, strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 1328.8 %².
Within CHRD's tracked universe of 38 assets, HPK comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CHRD ahead by 33.4 points (+40.6% versus +7.2%). Risk is not evenly split, since HPK carries 1.6 times the volatility of the other side.
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 HPK: side by side
| CHRD (Chord Energy Corporation) | HPK (HighPeak Energy, Inc.) | |
|---|---|---|
| 1-year return | +40.6% | +7.2% |
| 5-year return | +164.0% | -11.4% |
| Volatility (ann.) | 35.4% | 55.8% |
| Beta vs S&P 500 | 0.34 | 0.31 |
| Max drawdown (3Y) | -53.9% | -77.8% |
| Market cap | $8.0B | $1.0B |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 3.71% | 1.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | HPK |
|---|---|---|
| 2022 | +34.1% | +56.9% |
| 2023 | +31.7% | -37.4% |
| 2024 | -25.0% | +4.3% |
| 2025 | -16.4% | -67.2% |
| 2026 | +62.0% | +68.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and HPK good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CHRD and HPK?
As of 2026-08-27, the correlation of weekly returns between CHRD and HPK is 0.67 over 3 years, 0.67 over 1 year and 0.55 over 5 years.
Is HPK a good diversifier for CHRD?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
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-hpk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/chrd-vs-hpk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHRD correlations · HPK correlations
