CRC vs OVV: Correlation
How closely do California Resources Corporation (CRC) and Ovintiv Inc. (DE) (OVV) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRC and OVV?
Over the past 3 years, CRC and OVV moved with a correlation of 0.66, which is strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.66 over 3. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 824.7 %².
By 3-year correlation, OVV places #5 of the 13 assets tracked against CRC. Correlation aside, the last 12 months split them widely, with OVV ahead by 52.7 points (+8.5% versus +61.2%).
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.
CRC vs OVV: side by side
| CRC (California Resources Corporation) | OVV (Ovintiv Inc. (DE)) | |
|---|---|---|
| 1-year return | +8.5% | +61.2% |
| 5-year return | +78.6% | +175.7% |
| Volatility (ann.) | 34.5% | 36.4% |
| Beta vs S&P 500 | 0.59 | 0.43 |
| Max drawdown (3Y) | -44.8% | -42.2% |
| Market cap | $4.7B | $18.0B |
| P/E (trailing) | – | 18.0 |
| Dividend yield | 3.05% | 1.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRC | OVV |
|---|---|---|
| 2022 | +3.7% | +53.3% |
| 2023 | +28.9% | -10.9% |
| 2024 | -2.6% | -5.2% |
| 2025 | -10.8% | -0.3% |
| 2026 | +20.0% | +68.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRC and OVV good diversifiers for each other?
Only partially. A correlation of 0.66 means CRC and OVV 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 CRC and OVV?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.68 over the last year and 0.68 over 5 years.
Is OVV a good diversifier for CRC?
Only partially. A correlation of 0.66 means CRC and OVV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 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/crc-vs-ovv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crc-vs-ovv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRC correlations · OVV correlations
