DVN vs PR: Correlation
How closely do Devon Energy (DVN) and Permian Resources Corporation (PR) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVN and PR?
Across a 3-year window, the weekly returns of DVN and PR correlate at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.88) sits close to the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 1015.1 %².
By 3-year correlation, PR places #7 of the 42 assets tracked against DVN. Correlation aside, the last 12 months split them widely, with PR ahead by 34.4 points (+35.9% versus +70.3%).
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 PR: side by side
| DVN (Devon Energy) | PR (Permian Resources Corporation) | |
|---|---|---|
| 1-year return | +35.9% | +70.3% |
| 5-year return | +102.7% | +430.6% |
| Volatility (ann.) | 34.3% | 35.4% |
| Beta vs S&P 500 | 0.16 | 0.39 |
| Max drawdown (3Y) | -49.2% | -39.9% |
| Market cap | $51.8B | $19.4B |
| P/E (trailing) | 10.2 | 14.7 |
| Dividend yield | 2.22% | 2.73% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | DVN | PR |
|---|---|---|
| 2022 | +50.9% | +57.9% |
| 2023 | -21.8% | +49.4% |
| 2024 | -25.2% | +10.7% |
| 2025 | +15.0% | +1.9% |
| 2026 | +30.2% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and PR good diversifiers for each other?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between DVN and PR?
As of 2026-08-27, the correlation of weekly returns between DVN and PR is 0.84 over 3 years, 0.88 over 1 year and 0.78 over 5 years.
Is PR a good diversifier for DVN?
Not really. At 0.84, the two trade almost as one position, and owning both buys little extra protection.
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-pr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dvn-vs-pr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DVN correlations · PR correlations
