CHRD vs OVV: Correlation
Chord Energy Corporation (CHRD) and Ovintiv Inc. (DE) (OVV) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and OVV?
Over the past 3 years, CHRD and OVV moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.83 lands near the 3-year figure. Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 1089.6 %².
In CHRD's tracked universe of 38 assets, OVV sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months OVV outperformed by 20.6 percentage points (+40.6% for CHRD against +61.2% for OVV).
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 OVV: side by side
| CHRD (Chord Energy Corporation) | OVV (Ovintiv Inc. (DE)) | |
|---|---|---|
| 1-year return | +40.6% | +61.2% |
| 5-year return | +164.0% | +175.7% |
| Volatility (ann.) | 35.4% | 36.4% |
| Beta vs S&P 500 | 0.34 | 0.43 |
| Max drawdown (3Y) | -53.9% | -42.2% |
| Market cap | $8.0B | $18.0B |
| P/E (trailing) | 9.5 | 18.0 |
| Dividend yield | 3.71% | 1.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | OVV |
|---|---|---|
| 2022 | +34.1% | +53.3% |
| 2023 | +31.7% | -10.9% |
| 2024 | -25.0% | -5.2% |
| 2025 | -16.4% | -0.3% |
| 2026 | +62.0% | +68.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and OVV good diversifiers for each other?
No. With a correlation of 0.85, CHRD and OVV move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CHRD and OVV?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.83 over the last year and 0.81 over 5 years.
Is OVV a good diversifier for CHRD?
No. With a correlation of 0.85, CHRD and OVV move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 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
$ curl https://www.pairbook.io/api/v1/pairs/chrd-vs-ovv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chrd-vs-ovv/)
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Related comparisons
Hubs: CHRD correlations · OVV correlations
