CNX vs EQT: Correlation
CNX Resources Corporation (CNX) and EQT Corporation (EQT) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNX and EQT?
Across a 3-year window, the weekly returns of CNX and EQT correlate at 0.58, moderate. Recent behaviour matches the longer record: 0.66 over 1 year against 0.58 over 3. Stretching to 5 years gives 0.69, with an annualized covariance of 585.8 %².
Within CNX's tracked universe of 12 assets, EQT comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CNX outperformed by 16.3 percentage points (+24.2% for CNX against +7.9% for EQT).
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.
CNX vs EQT: side by side
| CNX (CNX Resources Corporation) | EQT (EQT Corporation) | |
|---|---|---|
| 1-year return | +24.2% | +7.9% |
| 5-year return | +229.8% | +224.8% |
| Volatility (ann.) | 29.6% | 34.1% |
| Beta vs S&P 500 | 0.41 | 0.52 |
| Max drawdown (3Y) | -33.4% | -31.6% |
| Market cap | $5.3B | $34.3B |
| P/E (trailing) | 5.8 | 12.7 |
| Dividend yield | 0.00% | 1.19% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | CNX | EQT |
|---|---|---|
| 2022 | +22.5% | +57.6% |
| 2023 | +18.8% | +16.2% |
| 2024 | +83.3% | +21.4% |
| 2025 | +0.3% | +17.6% |
| 2026 | -1.8% | +3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNX and EQT good diversifiers for each other?
To a limited degree. At 0.58 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 CNX and EQT?
The CNX/EQT correlation stands at 0.58 on a 3-year window (1 year: 0.66, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is EQT a good diversifier for CNX?
To a limited degree. At 0.58 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 0.58 mean?
A reading of 0.58 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/cnx-vs-eqt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnx-vs-eqt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNX correlations · EQT correlations
