CHRD vs SM: Correlation
Chord Energy Corporation (CHRD) and SM Energy Company (SM) 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 SM?
On 3 years of weekly data the CHRD/SM correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.85 over 3. The 5-year figure is 0.84, and annualized covariance runs at 1432.8 %².
In CHRD's tracked universe of 38 assets, SM sits right near the top at #3. Twelve-month performance is nearly a tie, at +40.6% for CHRD and +36.1% for SM.
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 SM: side by side
| CHRD (Chord Energy Corporation) | SM (SM Energy Company) | |
|---|---|---|
| 1-year return | +40.6% | +36.1% |
| 5-year return | +164.0% | +114.6% |
| Volatility (ann.) | 35.4% | 47.6% |
| Beta vs S&P 500 | 0.34 | 0.44 |
| Max drawdown (3Y) | -53.9% | -64.9% |
| Market cap | $8.0B | $8.8B |
| P/E (trailing) | 9.5 | 6.3 |
| Dividend yield | 3.71% | 2.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | SM |
|---|---|---|
| 2022 | +34.1% | +18.6% |
| 2023 | +31.7% | +13.1% |
| 2024 | -25.0% | +1.8% |
| 2025 | -16.4% | -49.7% |
| 2026 | +62.0% | +99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and SM good diversifiers for each other?
No: a correlation of 0.85 means CHRD and SM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CHRD and SM?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.87 over the last year and 0.84 over 5 years.
Is SM a good diversifier for CHRD?
No: a correlation of 0.85 means CHRD and SM tend to fall together, which is precisely when diversification is supposed to help.
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-sm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chrd-vs-sm/)
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Related comparisons
Hubs: CHRD correlations · SM correlations
