CVE vs RKT: Correlation
How closely do Cenovus Energy Inc (CVE) and Rocket Companies, Inc. (RKT) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVE and RKT?
Across a 3-year window, the weekly returns of CVE and RKT correlate at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.48) than the 3-year average (-0.28). Stretching to 5 years gives -0.09, with an annualized covariance of -543.2 %².
Among the 30 assets we track against CVE, RKT sits near the bottom by co-movement, at rank #28. Their recent paths diverged sharply: over the last 12 months CVE outperformed by 110.7 percentage points (+89.5% for CVE against -21.2% for RKT). Risk is not evenly split, since RKT carries 1.6 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 RKT: side by side
| CVE (Cenovus Energy Inc) | RKT (Rocket Companies, Inc.) | |
|---|---|---|
| 1-year return | +89.5% | -21.2% |
| 5-year return | +329.0% | -7.5% |
| Volatility (ann.) | 35.6% | 55.4% |
| Beta vs S&P 500 | 0.18 | 1.02 |
| Max drawdown (3Y) | -49.6% | -50.6% |
| Market cap | $58.5B | $40.3B |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 2.60% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVE | RKT |
|---|---|---|
| 2022 | +60.9% | -46.2% |
| 2023 | -12.3% | +106.9% |
| 2024 | -5.8% | -22.2% |
| 2025 | +13.9% | +81.7% |
| 2026 | +89.6% | -26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVE and RKT good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CVE and RKT?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.48 over the last year and -0.09 over 5 years.
Is RKT a good diversifier for CVE?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 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/cve-vs-rkt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cve-vs-rkt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVE correlations · RKT correlations
