EOG vs GFR: Correlation
How closely do EOG Resources (EOG) and Greenfire Resources Ltd. (GFR) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOG and GFR?
Over the past 3 years, EOG and GFR moved with a correlation of 0.47, which is moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.47 over 3. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 710.6 %².
Among the 40 assets we track against EOG, GFR ranks #28 by 3-year correlation. Neither side won the trailing year by much: +21.7% against +23.0%. Risk is not evenly split, since GFR carries 1.9 times the volatility of the other side.
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.
EOG vs GFR: side by side
| EOG (EOG Resources) | GFR (Greenfire Resources Ltd.) | |
|---|---|---|
| 1-year return | +21.7% | +23.0% |
| 5-year return | +171.5% | -37.0% |
| Volatility (ann.) | 28.1% | 53.7% |
| Beta vs S&P 500 | 0.14 | 0.55 |
| Max drawdown (3Y) | -23.7% | -63.5% |
| Market cap | $75.8B | $0.9B |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 2.82% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EOG | GFR |
|---|---|---|
| 2022 | +56.9% | +2.7% |
| 2023 | -2.0% | -52.1% |
| 2024 | +4.3% | +45.3% |
| 2025 | -11.4% | -32.6% |
| 2026 | +41.0% | +29.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOG and GFR good diversifiers for each other?
Reasonably. At 0.47, EOG and GFR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EOG and GFR?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.53 over the last year and 0.31 over 5 years.
Is GFR a good diversifier for EOG?
Reasonably. At 0.47, EOG and GFR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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: EOG correlations · GFR correlations
