COP vs PED: Correlation
How closely do ConocoPhillips (COP) and Pedevco Corp. (PED) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COP and PED?
Over the past 3 years, COP and PED moved with a correlation of 0.52, which is moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 818.6 %².
Within COP's tracked universe of 40 assets, PED comes in at #27 by 3-year correlation. The last year tells two different stories: COP led by 23.4 percentage points, +36.5% for COP against +13.1% for PED. Risk is not evenly split, since PED carries 1.9 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.
COP vs PED: side by side
| COP (ConocoPhillips) | PED (Pedevco Corp.) | |
|---|---|---|
| 1-year return | +36.5% | +13.1% |
| 5-year return | +175.2% | -39.7% |
| Volatility (ann.) | 29.1% | 54.0% |
| Beta vs S&P 500 | 0.25 | -0.28 |
| Max drawdown (3Y) | -36.3% | -58.3% |
| Market cap | $155.6B | $0.2B |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 2.53% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | COP | PED |
|---|---|---|
| 2022 | +71.7% | +3.8% |
| 2023 | +2.0% | -30.0% |
| 2024 | -12.2% | +1.0% |
| 2025 | -2.3% | -28.0% |
| 2026 | +41.4% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COP and PED good diversifiers for each other?
To a limited degree. At 0.52 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 COP and PED?
As of 2026-08-27, the correlation of weekly returns between COP and PED is 0.52 over 3 years, 0.47 over 1 year and 0.55 over 5 years.
Is PED a good diversifier for COP?
To a limited degree. At 0.52 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 0.52 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/cop-vs-ped.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cop-vs-ped/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COP correlations · PED correlations
