DVN vs MUR: Correlation
Devon Energy (DVN) and Murphy Oil Corporation (MUR) show a strong relationship: their 3-year correlation of weekly returns is 0.79.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVN and MUR?
Across a 3-year window, the weekly returns of DVN and MUR correlate at 0.79, strong. Recent behaviour matches the longer record: 0.74 over 1 year against 0.79 over 3. Stretching to 5 years gives 0.81, with an annualized covariance of 1078.8 %².
By 3-year correlation, MUR places #15 of the 42 assets tracked against DVN. The last year tells two different stories: MUR led by 15.8 percentage points, +35.9% for DVN against +51.7% for MUR.
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.
DVN vs MUR: side by side
| DVN (Devon Energy) | MUR (Murphy Oil Corporation) | |
|---|---|---|
| 1-year return | +35.9% | +51.7% |
| 5-year return | +102.7% | +96.7% |
| Volatility (ann.) | 34.3% | 39.7% |
| Beta vs S&P 500 | 0.16 | 0.16 |
| Max drawdown (3Y) | -49.2% | -58.5% |
| Market cap | $51.8B | $5.2B |
| P/E (trailing) | 10.2 | 17.2 |
| Dividend yield | 2.22% | 3.89% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | DVN | MUR |
|---|---|---|
| 2022 | +50.9% | +68.5% |
| 2023 | -21.8% | +2.0% |
| 2024 | -25.2% | -26.8% |
| 2025 | +15.0% | +8.7% |
| 2026 | +30.2% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and MUR good diversifiers for each other?
To a limited degree. At 0.79 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DVN and MUR?
The DVN/MUR correlation stands at 0.79 on a 3-year window (1 year: 0.74, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is MUR a good diversifier for DVN?
To a limited degree. At 0.79 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.79 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/dvn-vs-mur.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dvn-vs-mur/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DVN correlations · MUR correlations
