CHRD vs REI: Correlation
Measured on weekly returns over the past three years, Chord Energy Corporation (CHRD) and Ring Energy, Inc. (REI) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and REI?
Over the past 3 years, CHRD and REI moved with a correlation of 0.66, which is strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 1264.7 %².
Among the 38 assets we track against CHRD, REI ranks #28 by 3-year correlation. The trailing year gives CHRD the advantage: +40.6% versus +33.6%, a 7.0-point spread. Risk is not evenly split, since REI carries 1.5 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 REI: side by side
| CHRD (Chord Energy Corporation) | REI (Ring Energy, Inc.) | |
|---|---|---|
| 1-year return | +40.6% | +33.6% |
| 5-year return | +164.0% | -36.4% |
| Volatility (ann.) | 35.4% | 54.5% |
| Beta vs S&P 500 | 0.34 | 0.37 |
| Max drawdown (3Y) | -53.9% | -65.6% |
| Market cap | $8.0B | $0.4B |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | REI |
|---|---|---|
| 2022 | +34.1% | +7.9% |
| 2023 | +31.7% | -40.7% |
| 2024 | -25.0% | -6.8% |
| 2025 | -16.4% | -36.0% |
| 2026 | +62.0% | +69.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and REI good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CHRD and REI?
As of 2026-08-27, the correlation of weekly returns between CHRD and REI is 0.66 over 3 years, 0.63 over 1 year and 0.64 over 5 years.
Is REI a good diversifier for CHRD?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CHRD correlations · REI correlations
