EPM vs GRNT: Correlation
Measured on weekly returns over the past three years, Evolution Petroleum Corporation, Inc. (EPM) and Granite Ridge Resources, Inc. (GRNT) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EPM and GRNT?
On 3 years of weekly data the EPM/GRNT correlation comes out at 0.63, strong. Recent behaviour matches the longer record: 0.60 over 1 year against 0.63 over 3. The 5-year figure is 0.38, and annualized covariance runs at 842.7 %².
Few assets follow EPM as closely as GRNT, which ranks #1 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months GRNT outperformed by 21.4 percentage points (-21.8% for EPM against -0.4% for GRNT).
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.
EPM vs GRNT: side by side
| EPM (Evolution Petroleum Corporation, Inc.) | GRNT (Granite Ridge Resources, Inc.) | |
|---|---|---|
| 1-year return | -21.8% | -0.4% |
| 5-year return | +28.8% | -31.9% |
| Volatility (ann.) | 34.3% | 39.2% |
| Beta vs S&P 500 | 0.50 | 0.55 |
| Max drawdown (3Y) | -55.2% | -36.8% |
| Market cap | $0.1B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 14.04% | 8.80% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EPM | GRNT |
|---|---|---|
| 2022 | +58.7% | -7.1% |
| 2023 | -17.3% | -28.5% |
| 2024 | -2.0% | +14.9% |
| 2025 | -25.2% | -21.3% |
| 2026 | +6.9% | +12.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EPM and GRNT good diversifiers for each other?
Only partially. A correlation of 0.63 means EPM and GRNT 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 EPM and GRNT?
As of 2026-08-27, the correlation of weekly returns between EPM and GRNT is 0.63 over 3 years, 0.60 over 1 year and 0.38 over 5 years.
Is GRNT a good diversifier for EPM?
Only partially. A correlation of 0.63 means EPM and GRNT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
A reading of 0.63 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: EPM correlations · GRNT correlations
