DVN vs OLLI: Correlation
Measured on weekly returns over the past three years, Devon Energy (DVN) and Ollie's Bargain Outlet Holdings, Inc. (OLLI) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVN and OLLI?
Over the past 3 years, DVN and OLLI moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -285.0 %².
OLLI is close to the least connected end of DVN's tracked universe, ranking #39 of 42. The last year tells two different stories: DVN led by 81.1 percentage points, +35.9% for DVN against -45.2% for OLLI.
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 OLLI: side by side
| DVN (Devon Energy) | OLLI (Ollie's Bargain Outlet Holdings, Inc.) | |
|---|---|---|
| 1-year return | +35.9% | -45.2% |
| 5-year return | +102.7% | -6.7% |
| Volatility (ann.) | 34.3% | 35.2% |
| Beta vs S&P 500 | 0.16 | 0.75 |
| Max drawdown (3Y) | -49.2% | -56.1% |
| Market cap | $51.8B | $4.3B |
| P/E (trailing) | 10.2 | 18.4 |
| Dividend yield | 2.22% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | DVN | OLLI |
|---|---|---|
| 2022 | +50.9% | -8.5% |
| 2023 | -21.8% | +62.0% |
| 2024 | -25.2% | +44.6% |
| 2025 | +15.0% | -0.1% |
| 2026 | +30.2% | -34.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and OLLI good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between DVN and OLLI?
The DVN/OLLI correlation stands at -0.24 on a 3-year window (1 year: -0.27, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is OLLI a good diversifier for DVN?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dvn-vs-olli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dvn-vs-olli/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DVN correlations · OLLI correlations
