COP vs PEO: Correlation
How closely do ConocoPhillips (COP) and Adams Natural Resources Fund, Inc. (PEO) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COP and PEO?
On 3 years of weekly data the COP/PEO correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. The 5-year figure is 0.87, and annualized covariance runs at 490.2 %².
By 3-year correlation, PEO places #5 of the 40 assets tracked against COP. The trailing year gives PEO the advantage: +36.5% versus +41.6%, a 5.1-point spread.
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 PEO: side by side
| COP (ConocoPhillips) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +36.5% | +41.6% |
| 5-year return | +175.2% | +179.3% |
| Volatility (ann.) | 29.1% | 20.2% |
| Beta vs S&P 500 | 0.25 | 0.30 |
| Max drawdown (3Y) | -36.3% | -18.9% |
| Market cap | $155.6B | $0.8B |
| P/E (trailing) | 17.3 | 4.8 |
| Dividend yield | 2.53% | 7.09% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | COP | PEO |
|---|---|---|
| 2022 | +71.7% | +41.8% |
| 2023 | +2.0% | +0.9% |
| 2024 | -12.2% | +13.6% |
| 2025 | -2.3% | +10.0% |
| 2026 | +41.4% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COP and PEO good diversifiers for each other?
No. With a correlation of 0.83, COP and PEO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between COP and PEO?
Using weekly returns as of 2026-08-27: 0.83 over 3 years, with 0.82 over the last year and 0.87 over 5 years.
Is PEO a good diversifier for COP?
No. With a correlation of 0.83, COP and PEO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cop-vs-peo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cop-vs-peo/)
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Related comparisons
Hubs: COP correlations · PEO correlations
