CHRD vs MTDR: Correlation
How closely do Chord Energy Corporation (CHRD) and Matador Resources Company (MTDR) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and MTDR?
On 3 years of weekly data the CHRD/MTDR correlation comes out at 0.84, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.78 over 1 year against 0.84 over 3. The 5-year figure is 0.81, and annualized covariance runs at 1195.6 %².
By 3-year correlation, MTDR places #6 of the 38 assets tracked against CHRD. Their recent paths diverged sharply: over the last 12 months CHRD outperformed by 23.2 percentage points (+40.6% for CHRD against +17.4% for MTDR).
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 MTDR: side by side
| CHRD (Chord Energy Corporation) | MTDR (Matador Resources Company) | |
|---|---|---|
| 1-year return | +40.6% | +17.4% |
| 5-year return | +164.0% | +115.7% |
| Volatility (ann.) | 35.4% | 40.3% |
| Beta vs S&P 500 | 0.34 | 0.49 |
| Max drawdown (3Y) | -53.9% | -46.8% |
| Market cap | $8.0B | $7.0B |
| P/E (trailing) | 9.5 | 9.7 |
| Dividend yield | 3.71% | 2.60% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | MTDR |
|---|---|---|
| 2022 | +34.1% | +55.8% |
| 2023 | +31.7% | +0.6% |
| 2024 | -25.0% | +0.4% |
| 2025 | -16.4% | -22.3% |
| 2026 | +62.0% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and MTDR good diversifiers for each other?
No. With a correlation of 0.84, CHRD and MTDR move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CHRD and MTDR?
The CHRD/MTDR correlation stands at 0.84 on a 3-year window (1 year: 0.78, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is MTDR a good diversifier for CHRD?
No. With a correlation of 0.84, CHRD and MTDR 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.
Use this data
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Related comparisons
Hubs: CHRD correlations · MTDR correlations
