EPSN vs HPK: Correlation
Measured on weekly returns over the past three years, Epsilon Energy Ltd. (EPSN) and HighPeak Energy, Inc. (HPK) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EPSN and HPK?
Over the past 3 years, EPSN and HPK moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 926.0 %².
Among the 13 assets we track against EPSN, HPK ranks #4 by 3-year correlation. Their 12-month results are close: +4.6% for EPSN against +7.2% for HPK. One caveat on sizing: HPK is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EPSN vs HPK: side by side
| EPSN (Epsilon Energy Ltd.) | HPK (HighPeak Energy, Inc.) | |
|---|---|---|
| 1-year return | +4.6% | +7.2% |
| 5-year return | +42.0% | -11.4% |
| Volatility (ann.) | 31.1% | 55.8% |
| Beta vs S&P 500 | 0.12 | 0.31 |
| Max drawdown (3Y) | -48.1% | -77.8% |
| Market cap | $0.2B | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | 4.28% | 1.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EPSN | HPK |
|---|---|---|
| 2022 | +21.4% | +56.9% |
| 2023 | -19.5% | -37.4% |
| 2024 | +28.2% | +4.3% |
| 2025 | -22.1% | -67.2% |
| 2026 | +30.2% | +68.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EPSN and HPK good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EPSN and HPK?
As of 2026-08-27, the correlation of weekly returns between EPSN and HPK is 0.53 over 3 years, 0.53 over 1 year and 0.43 over 5 years.
Is HPK a good diversifier for EPSN?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/epsn-vs-hpk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/epsn-vs-hpk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EPSN correlations · HPK correlations
