EOG vs MTDR: Correlation
How closely do EOG Resources (EOG) and Matador Resources Company (MTDR) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOG and MTDR?
On 3 years of weekly data the EOG/MTDR correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.76 over 1 year against 0.80 over 3. The 5-year figure is 0.82, and annualized covariance runs at 906.4 %².
Within EOG's tracked universe of 40 assets, MTDR comes in at #9 by 3-year correlation. Twelve-month performance is nearly a tie, at +21.7% for EOG and +17.4% for MTDR.
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 MTDR: side by side
| EOG (EOG Resources) | MTDR (Matador Resources Company) | |
|---|---|---|
| 1-year return | +21.7% | +17.4% |
| 5-year return | +171.5% | +115.7% |
| Volatility (ann.) | 28.1% | 40.3% |
| Beta vs S&P 500 | 0.14 | 0.49 |
| Max drawdown (3Y) | -23.7% | -46.8% |
| Market cap | $75.8B | $7.0B |
| P/E (trailing) | 11.3 | 9.7 |
| Dividend yield | 2.82% | 2.60% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EOG | MTDR |
|---|---|---|
| 2022 | +56.9% | +55.8% |
| 2023 | -2.0% | +0.6% |
| 2024 | +4.3% | +0.4% |
| 2025 | -11.4% | -22.3% |
| 2026 | +41.0% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOG and MTDR good diversifiers for each other?
No. With a correlation of 0.80, EOG and MTDR move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between EOG and MTDR?
The EOG/MTDR correlation stands at 0.80 on a 3-year window (1 year: 0.76, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is MTDR a good diversifier for EOG?
No. With a correlation of 0.80, EOG and MTDR move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 mean?
A reading of 0.80 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
$ curl https://www.pairbook.io/api/v1/pairs/eog-vs-mtdr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eog-vs-mtdr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EOG correlations · MTDR correlations
