CVE vs KOS: Correlation
Cenovus Energy Inc (CVE) and Kosmos Energy Ltd. (KOS) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVE and KOS?
Over the past 3 years, CVE and KOS moved with a correlation of 0.66, which is strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 1581.0 %².
Within CVE's tracked universe of 30 assets, KOS comes in at #15 by 3-year correlation. The last year tells two different stories: CVE led by 32.7 percentage points, +89.5% for CVE against +56.8% for KOS. Risk is not evenly split, since KOS 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.
CVE vs KOS: side by side
| CVE (Cenovus Energy Inc) | KOS (Kosmos Energy Ltd.) | |
|---|---|---|
| 1-year return | +89.5% | +56.8% |
| 5-year return | +329.0% | +24.8% |
| Volatility (ann.) | 35.6% | 67.5% |
| Beta vs S&P 500 | 0.18 | 0.59 |
| Max drawdown (3Y) | -49.6% | -89.4% |
| Market cap | $58.5B | $1.7B |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 2.60% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVE | KOS |
|---|---|---|
| 2022 | +60.9% | +83.8% |
| 2023 | -12.3% | +5.5% |
| 2024 | -5.8% | -49.0% |
| 2025 | +13.9% | -73.4% |
| 2026 | +89.6% | +215.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVE and KOS good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CVE and KOS?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.63 over the last year and 0.70 over 5 years.
Is KOS a good diversifier for CVE?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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/cve-vs-kos.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cve-vs-kos/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVE correlations · KOS correlations
