DVN vs RGTI: Correlation
Devon Energy (DVN) and Rigetti Computing, Inc. (RGTI) 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 RGTI?
Over the past 3 years, DVN and RGTI moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.44) runs below the 3-year figure (-0.23). Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -1025.6 %².
Among the 42 assets we track against DVN, RGTI ranks #34 by 3-year correlation. The last year tells two different stories: DVN led by 29.1 percentage points, +35.9% for DVN against +6.8% for RGTI. One caveat on sizing: RGTI is 3.8 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 RGTI: side by side
| DVN (Devon Energy) | RGTI (Rigetti Computing, Inc.) | |
|---|---|---|
| 1-year return | +35.9% | +6.8% |
| 5-year return | +102.7% | +69.5% |
| Volatility (ann.) | 34.3% | 129.7% |
| Beta vs S&P 500 | 0.16 | 2.64 |
| Max drawdown (3Y) | -49.2% | -77.1% |
| Market cap | $51.8B | $5.5B |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 2.22% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | DVN | RGTI |
|---|---|---|
| 2022 | +50.9% | -92.9% |
| 2023 | -21.8% | +35.1% |
| 2024 | -25.2% | +1449.2% |
| 2025 | +15.0% | +45.2% |
| 2026 | +30.2% | -25.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and RGTI good diversifiers for each other?
Yes. With a correlation of -0.23, DVN and RGTI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DVN and RGTI?
As of 2026-08-27, the correlation of weekly returns between DVN and RGTI is -0.23 over 3 years, -0.44 over 1 year and -0.05 over 5 years.
Is RGTI a good diversifier for DVN?
Yes. With a correlation of -0.23, DVN and RGTI 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
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Related comparisons
Hubs: DVN correlations · RGTI correlations
