CVX vs ENGN: Correlation
How closely do Chevron Corporation (CVX) and enGene Therapeutics Inc. (ENGN) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVX and ENGN?
Over the past 3 years, CVX and ENGN moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.22 over 3 years. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -834.5 %².
Among the 29 assets we track against CVX, ENGN ranks #24 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CVX ahead by 86.4 points (+30.4% versus -56.0%). Note the risk asymmetry: ENGN runs 6.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CVX vs ENGN: side by side
| CVX (Chevron Corporation) | ENGN (enGene Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +30.4% | -56.0% |
| 5-year return | +148.1% | -80.6% |
| Volatility (ann.) | 23.8% | 156.3% |
| Beta vs S&P 500 | 0.22 | -0.97 |
| Max drawdown (3Y) | -20.8% | -94.9% |
| Market cap | $391.9B | $0.1B |
| P/E (trailing) | 19.3 | – |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | CVX | ENGN |
|---|---|---|
| 2022 | +58.5% | – |
| 2023 | -13.6% | -10.6% |
| 2024 | +1.3% | -28.0% |
| 2025 | +10.1% | +35.8% |
| 2026 | +34.7% | -78.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVX and ENGN good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CVX and ENGN?
As of 2026-08-27, the correlation of weekly returns between CVX and ENGN is -0.22 over 3 years, -0.04 over 1 year and -0.16 over 5 years.
Is ENGN a good diversifier for CVX?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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/cvx-vs-engn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvx-vs-engn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CVX correlations · ENGN correlations
