EQNR vs KOS: Correlation
Measured on weekly returns over the past three years, Equinor ASA (EQNR) and Kosmos Energy Ltd. (KOS) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and KOS?
On 3 years of weekly data the EQNR/KOS correlation comes out at 0.66, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 1486.3 %².
Within EQNR's tracked universe of 79 assets, KOS comes in at #7 by 3-year correlation. The last year tells two different stories: EQNR led by 20.4 percentage points, +77.2% for EQNR against +56.8% for KOS. One caveat on sizing: KOS is 2.0 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.
EQNR vs KOS: side by side
| EQNR (Equinor ASA) | KOS (Kosmos Energy Ltd.) | |
|---|---|---|
| 1-year return | +77.2% | +56.8% |
| 5-year return | +180.6% | +24.8% |
| Volatility (ann.) | 33.2% | 67.5% |
| Beta vs S&P 500 | -0.25 | 0.59 |
| Max drawdown (3Y) | -27.6% | -89.4% |
| Market cap | $98.6B | $1.7B |
| P/E (trailing) | 11.2 | – |
| Dividend yield | 3.73% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | KOS |
|---|---|---|
| 2022 | +42.8% | +83.8% |
| 2023 | -0.8% | +5.5% |
| 2024 | -16.0% | -49.0% |
| 2025 | +6.1% | -73.4% |
| 2026 | +81.8% | +215.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and KOS good diversifiers for each other?
To a limited degree. At 0.66 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 EQNR and KOS?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.71 over the last year and 0.66 over 5 years.
Is KOS a good diversifier for EQNR?
To a limited degree. At 0.66 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 0.66 mean?
A reading of 0.66 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/eqnr-vs-kos.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eqnr-vs-kos/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQNR correlations · KOS correlations
