EQNR vs HD: Correlation
Equinor ASA (EQNR) and Home Depot (The) (HD) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and HD?
Over the past 3 years, EQNR and HD moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.30 over 3 years. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -232.9 %².
Among the 79 assets we track against EQNR, HD ranks #70 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EQNR outperformed by 94.6 percentage points (+77.2% for EQNR against -17.4% for HD).
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 HD: side by side
| EQNR (Equinor ASA) | HD (Home Depot (The)) | |
|---|---|---|
| 1-year return | +77.2% | -17.4% |
| 5-year return | +180.6% | +13.8% |
| Volatility (ann.) | 33.2% | 23.6% |
| Beta vs S&P 500 | -0.25 | 0.87 |
| Max drawdown (3Y) | -27.6% | -28.8% |
| Market cap | $98.6B | $327.9B |
| P/E (trailing) | 11.2 | 23.4 |
| Dividend yield | 3.73% | 1.38% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | EQNR | HD |
|---|---|---|
| 2022 | +42.8% | -22.0% |
| 2023 | -0.8% | +12.8% |
| 2024 | -16.0% | +15.0% |
| 2025 | +6.1% | -9.3% |
| 2026 | +81.8% | -3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and HD good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQNR and HD?
The EQNR/HD correlation stands at -0.30 on a 3-year window (1 year: -0.49, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is HD a good diversifier for EQNR?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 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-hd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqnr-vs-hd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EQNR correlations · HD correlations
