DVN vs VLO: Correlation
How closely do Devon Energy (DVN) and Valero Energy (VLO) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVN and VLO?
On 3 years of weekly data the DVN/VLO correlation comes out at 0.62, strong. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 743.7 %².
Within DVN's tracked universe of 42 assets, VLO comes in at #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VLO ahead by 98.9 points (+35.9% versus +134.8%). The rolling one-year correlation moved between 0.43 and 0.74 over the past three years, a moderate range.
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 VLO: side by side
| DVN (Devon Energy) | VLO (Valero Energy) | |
|---|---|---|
| 1-year return | +35.9% | +134.8% |
| 5-year return | +102.7% | +512.9% |
| Volatility (ann.) | 34.3% | 34.8% |
| Beta vs S&P 500 | 0.16 | 0.55 |
| Max drawdown (3Y) | -49.2% | -41.2% |
| Market cap | $51.8B | $99.8B |
| P/E (trailing) | 10.2 | 14.5 |
| Dividend yield | 2.22% | 1.34% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | DVN | VLO |
|---|---|---|
| 2022 | +50.9% | +75.0% |
| 2023 | -21.8% | +5.9% |
| 2024 | -25.2% | -3.0% |
| 2025 | +15.0% | +37.0% |
| 2026 | +30.2% | +116.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and VLO good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DVN and VLO?
As of 2026-08-27, the correlation of weekly returns between DVN and VLO is 0.62 over 3 years, 0.57 over 1 year and 0.67 over 5 years.
Is VLO a good diversifier for DVN?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DVN correlations · VLO correlations
