CHRD vs OBE: Correlation
Measured on weekly returns over the past three years, Chord Energy Corporation (CHRD) and Obsidian Energy Ltd. (OBE) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and OBE?
Across a 3-year window, the weekly returns of CHRD and OBE correlate at 0.74, strong. Little has changed lately, as the 1-year reading of 0.72 lands near the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 1310.8 %².
Among the 38 assets we track against CHRD, OBE ranks #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OBE ahead by 52.7 points (+40.6% versus +93.3%).
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 OBE: side by side
| CHRD (Chord Energy Corporation) | OBE (Obsidian Energy Ltd.) | |
|---|---|---|
| 1-year return | +40.6% | +93.3% |
| 5-year return | +164.0% | +339.0% |
| Volatility (ann.) | 35.4% | 50.2% |
| Beta vs S&P 500 | 0.34 | 0.38 |
| Max drawdown (3Y) | -53.9% | -56.4% |
| Market cap | $8.0B | $0.8B |
| P/E (trailing) | 9.5 | 36.9 |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | OBE |
|---|---|---|
| 2022 | +34.1% | +61.2% |
| 2023 | +31.7% | +2.1% |
| 2024 | -25.0% | -14.6% |
| 2025 | -16.4% | +5.9% |
| 2026 | +62.0% | +92.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and OBE good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CHRD and OBE?
As of 2026-08-27, the correlation of weekly returns between CHRD and OBE is 0.74 over 3 years, 0.72 over 1 year and 0.65 over 5 years.
Is OBE a good diversifier for CHRD?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 mean?
A reading of 0.74 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-obe.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/chrd-vs-obe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CHRD correlations · OBE correlations
