EQNR vs FUL: Correlation
Measured on weekly returns over the past three years, Equinor ASA (EQNR) and H. B. Fuller Company (FUL) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and FUL?
Across a 3-year window, the weekly returns of EQNR and FUL correlate at -0.34, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.49) runs below the 3-year figure (-0.34). Stretching to 5 years gives -0.11, with an annualized covariance of -345.3 %².
Among the 79 assets we track against EQNR, FUL sits near the bottom by co-movement, at rank #75. Correlation aside, the last 12 months split them widely, with EQNR ahead by 83.3 points (+77.2% versus -6.1%).
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.
EQNR vs FUL: side by side
| EQNR (Equinor ASA) | FUL (H. B. Fuller Company) | |
|---|---|---|
| 1-year return | +77.2% | -6.1% |
| 5-year return | +180.6% | -10.4% |
| Volatility (ann.) | 33.2% | 31.0% |
| Beta vs S&P 500 | -0.25 | 0.93 |
| Max drawdown (3Y) | -27.6% | -43.5% |
| Market cap | $98.6B | $3.1B |
| P/E (trailing) | 11.2 | 17.2 |
| Dividend yield | 3.73% | 1.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | FUL |
|---|---|---|
| 2022 | +42.8% | -10.6% |
| 2023 | -0.8% | +15.0% |
| 2024 | -16.0% | -16.2% |
| 2025 | +6.1% | -10.5% |
| 2026 | +81.8% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and FUL good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EQNR and FUL?
As of 2026-08-27, the correlation of weekly returns between EQNR and FUL is -0.34 over 3 years, -0.49 over 1 year and -0.11 over 5 years.
Is FUL a good diversifier for EQNR?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eqnr-vs-ful.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eqnr-vs-ful/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQNR correlations · FUL correlations
