DVN vs PSX: Correlation
Measured on weekly returns over the past three years, Devon Energy (DVN) and Phillips 66 (PSX) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVN and PSX?
Across a 3-year window, the weekly returns of DVN and PSX correlate at 0.68, strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.68 over 3. Stretching to 5 years gives 0.71, with an annualized covariance of 776.1 %².
By 3-year correlation, PSX places #24 of the 42 assets tracked against DVN. Their recent paths diverged sharply: over the last 12 months PSX outperformed by 50.3 percentage points (+35.9% for DVN against +86.2% for PSX). The rolling one-year correlation stayed in a tight band between 0.58 and 0.80 over the past three years, which points to a structural rather than episodic relationship.
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 PSX: side by side
| DVN (Devon Energy) | PSX (Phillips 66) | |
|---|---|---|
| 1-year return | +35.9% | +86.2% |
| 5-year return | +102.7% | +301.8% |
| Volatility (ann.) | 34.3% | 33.4% |
| Beta vs S&P 500 | 0.16 | 0.58 |
| Max drawdown (3Y) | -49.2% | -44.4% |
| Market cap | $51.8B | $96.1B |
| P/E (trailing) | 10.2 | 13.8 |
| Dividend yield | 2.22% | 2.04% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | DVN | PSX |
|---|---|---|
| 2022 | +50.9% | +49.6% |
| 2023 | -21.8% | +33.1% |
| 2024 | -25.2% | -11.6% |
| 2025 | +15.0% | +17.5% |
| 2026 | +30.2% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and PSX good diversifiers for each other?
To a limited degree. At 0.68 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 PSX?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.64 over the last year and 0.71 over 5 years.
Is PSX a good diversifier for DVN?
To a limited degree. At 0.68 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 0.68 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-psx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dvn-vs-psx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DVN correlations · PSX correlations
