EOG vs SM: Correlation
Measured on weekly returns over the past three years, EOG Resources (EOG) and SM Energy Company (SM) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOG and SM?
Over the past 3 years, EOG and SM moved with a correlation of 0.78, which is strong. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 1051.3 %².
Within EOG's tracked universe of 40 assets, SM comes in at #14 by 3-year correlation. On 12-month performance SM holds a 14.4-point edge, +21.7% against +36.1%. Risk is not evenly split, since SM carries 1.7 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 SM: side by side
| EOG (EOG Resources) | SM (SM Energy Company) | |
|---|---|---|
| 1-year return | +21.7% | +36.1% |
| 5-year return | +171.5% | +114.6% |
| Volatility (ann.) | 28.1% | 47.6% |
| Beta vs S&P 500 | 0.14 | 0.44 |
| Max drawdown (3Y) | -23.7% | -64.9% |
| Market cap | $75.8B | $8.8B |
| P/E (trailing) | 11.3 | 6.3 |
| Dividend yield | 2.82% | 2.32% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EOG | SM |
|---|---|---|
| 2022 | +56.9% | +18.6% |
| 2023 | -2.0% | +13.1% |
| 2024 | +4.3% | +1.8% |
| 2025 | -11.4% | -49.7% |
| 2026 | +41.0% | +99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOG and SM good diversifiers for each other?
Only partially. A correlation of 0.78 means EOG and SM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EOG and SM?
The EOG/SM correlation stands at 0.78 on a 3-year window (1 year: 0.81, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is SM a good diversifier for EOG?
Only partially. A correlation of 0.78 means EOG and SM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
A reading of 0.78 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-sm.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: EOG correlations · SM correlations
