DVN vs PEO: Correlation
Devon Energy (DVN) and Adams Natural Resources Fund, Inc. (PEO) show a very strong relationship: their 3-year correlation of weekly returns is 0.84.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVN and PEO?
On 3 years of weekly data the DVN/PEO correlation comes out at 0.84, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.82 lands near the 3-year figure. The 5-year figure is 0.85, and annualized covariance runs at 583.2 %².
Within DVN's tracked universe of 42 assets, PEO comes in at #6 by 3-year correlation. On 12-month performance PEO holds a 5.7-point edge, +35.9% against +41.6%. One caveat on sizing: DVN is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PEO: side by side
| DVN (Devon Energy) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +35.9% | +41.6% |
| 5-year return | +102.7% | +179.3% |
| Volatility (ann.) | 34.3% | 20.2% |
| Beta vs S&P 500 | 0.16 | 0.30 |
| Max drawdown (3Y) | -49.2% | -18.9% |
| Market cap | $51.8B | $0.8B |
| P/E (trailing) | 10.2 | 4.8 |
| Dividend yield | 2.22% | 7.09% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | DVN | PEO |
|---|---|---|
| 2022 | +50.9% | +41.8% |
| 2023 | -21.8% | +0.9% |
| 2024 | -25.2% | +13.6% |
| 2025 | +15.0% | +10.0% |
| 2026 | +30.2% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and PEO good diversifiers for each other?
No: a correlation of 0.84 means DVN and PEO tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DVN and PEO?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.82 over the last year and 0.85 over 5 years.
Is PEO a good diversifier for DVN?
No: a correlation of 0.84 means DVN and PEO tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.84 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-peo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dvn-vs-peo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DVN correlations · PEO correlations
