DVN vs VNOM: Correlation
How closely do Devon Energy (DVN) and Viper Energy, Inc. (VNOM) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVN and VNOM?
Across a 3-year window, the weekly returns of DVN and VNOM correlate at 0.69, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 753.9 %².
By 3-year correlation, VNOM places #23 of the 42 assets tracked against DVN. Their recent paths diverged sharply: over the last 12 months DVN outperformed by 15.4 percentage points (+35.9% for DVN against +20.5% for VNOM).
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 VNOM: side by side
| DVN (Devon Energy) | VNOM (Viper Energy, Inc.) | |
|---|---|---|
| 1-year return | +35.9% | +20.5% |
| 5-year return | +102.7% | +230.6% |
| Volatility (ann.) | 34.3% | 31.8% |
| Beta vs S&P 500 | 0.16 | 0.33 |
| Max drawdown (3Y) | -49.2% | -34.5% |
| Market cap | $51.8B | $23.4B |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 2.22% | 5.54% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | DVN | VNOM |
|---|---|---|
| 2022 | +50.9% | +61.7% |
| 2023 | -21.8% | +4.8% |
| 2024 | -25.2% | +65.5% |
| 2025 | +15.0% | -16.6% |
| 2026 | +30.2% | +20.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and VNOM good diversifiers for each other?
To a limited degree. At 0.69 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 VNOM?
As of 2026-08-27, the correlation of weekly returns between DVN and VNOM is 0.69 over 3 years, 0.71 over 1 year and 0.72 over 5 years.
Is VNOM a good diversifier for DVN?
To a limited degree. At 0.69 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 0.69 mean?
On the −1 to +1 scale, 0.69 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dvn-vs-vnom.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dvn-vs-vnom/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DVN correlations · VNOM correlations
