DVN vs PRGS: Correlation
Devon Energy (DVN) and Progress Software Corporation (PRGS) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVN and PRGS?
Over the past 3 years, DVN and PRGS moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.23). Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -299.8 %².
Within DVN's tracked universe of 42 assets, PRGS comes in at #33 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DVN outperformed by 39.4 percentage points (+35.9% for DVN against -3.5% for PRGS).
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 PRGS: side by side
| DVN (Devon Energy) | PRGS (Progress Software Corporation) | |
|---|---|---|
| 1-year return | +35.9% | -3.5% |
| 5-year return | +102.7% | +1.2% |
| Volatility (ann.) | 34.3% | 38.3% |
| Beta vs S&P 500 | 0.16 | 0.62 |
| Max drawdown (3Y) | -49.2% | -64.1% |
| Market cap | $51.8B | $1.9B |
| P/E (trailing) | 10.2 | 22.0 |
| Dividend yield | 2.22% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | DVN | PRGS |
|---|---|---|
| 2022 | +50.9% | +6.0% |
| 2023 | -21.8% | +8.9% |
| 2024 | -25.2% | +21.2% |
| 2025 | +15.0% | -34.1% |
| 2026 | +30.2% | +5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and PRGS good diversifiers for each other?
Yes. With a correlation of -0.23, DVN and PRGS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DVN and PRGS?
The DVN/PRGS correlation stands at -0.23 on a 3-year window (1 year: -0.34, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is PRGS a good diversifier for DVN?
Yes. With a correlation of -0.23, DVN and PRGS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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-prgs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dvn-vs-prgs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DVN correlations · PRGS correlations
