EOG vs OVV: Correlation
EOG Resources (EOG) and Ovintiv Inc. (DE) (OVV) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOG and OVV?
Across a 3-year window, the weekly returns of EOG and OVV correlate at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.81 over 1 year against 0.82 over 3. Stretching to 5 years gives 0.83, with an annualized covariance of 843.2 %².
Among the 40 assets we track against EOG, OVV ranks #6 by 3-year correlation. The last year tells two different stories: OVV led by 39.5 percentage points, +21.7% for EOG against +61.2% for OVV.
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 OVV: side by side
| EOG (EOG Resources) | OVV (Ovintiv Inc. (DE)) | |
|---|---|---|
| 1-year return | +21.7% | +61.2% |
| 5-year return | +171.5% | +175.7% |
| Volatility (ann.) | 28.1% | 36.4% |
| Beta vs S&P 500 | 0.14 | 0.43 |
| Max drawdown (3Y) | -23.7% | -42.2% |
| Market cap | $75.8B | $18.0B |
| P/E (trailing) | 11.3 | 18.0 |
| Dividend yield | 2.82% | 1.86% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EOG | OVV |
|---|---|---|
| 2022 | +56.9% | +53.3% |
| 2023 | -2.0% | -10.9% |
| 2024 | +4.3% | -5.2% |
| 2025 | -11.4% | -0.3% |
| 2026 | +41.0% | +68.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOG and OVV good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between EOG and OVV?
The EOG/OVV correlation stands at 0.82 on a 3-year window (1 year: 0.81, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is OVV a good diversifier for EOG?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 mean?
A reading of 0.82 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 · OVV correlations
