COP vs SU: Correlation
Measured on weekly returns over the past three years, ConocoPhillips (COP) and Suncor Energy Inc. (SU) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COP and SU?
On 3 years of weekly data the COP/SU correlation comes out at 0.78, strong. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. The 5-year figure is 0.79, and annualized covariance runs at 664.1 %².
Among the 40 assets we track against COP, SU ranks #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SU outperformed by 27.8 percentage points (+36.5% for COP against +64.3% for SU).
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 SU: side by side
| COP (ConocoPhillips) | SU (Suncor Energy Inc.) | |
|---|---|---|
| 1-year return | +36.5% | +64.3% |
| 5-year return | +175.2% | +325.4% |
| Volatility (ann.) | 29.1% | 29.1% |
| Beta vs S&P 500 | 0.25 | 0.13 |
| Max drawdown (3Y) | -36.3% | -22.7% |
| Market cap | $155.6B | $78.4B |
| P/E (trailing) | 17.3 | 12.1 |
| Dividend yield | 2.53% | 3.61% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | COP | SU |
|---|---|---|
| 2022 | +71.7% | +32.3% |
| 2023 | +2.0% | +6.0% |
| 2024 | -12.2% | +16.2% |
| 2025 | -2.3% | +27.1% |
| 2026 | +41.4% | +51.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COP and SU good diversifiers for each other?
Only partially. A correlation of 0.78 means COP and SU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between COP and SU?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.77 over the last year and 0.79 over 5 years.
Is SU a good diversifier for COP?
Only partially. A correlation of 0.78 means COP and SU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 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-su.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cop-vs-su/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COP correlations · SU correlations
