EQNR vs LGIH: Correlation
Measured on weekly returns over the past three years, Equinor ASA (EQNR) and LGI Homes, Inc. (LGIH) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and LGIH?
On 3 years of weekly data the EQNR/LGIH correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.27 over 3 years. The 5-year figure is -0.16, and annualized covariance runs at -469.4 %².
Within EQNR's tracked universe of 79 assets, LGIH comes in at #60 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EQNR ahead by 86.6 points (+77.2% versus -9.4%). One caveat on sizing: LGIH is 1.6 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 LGIH: side by side
| EQNR (Equinor ASA) | LGIH (LGI Homes, Inc.) | |
|---|---|---|
| 1-year return | +77.2% | -9.4% |
| 5-year return | +180.6% | -64.2% |
| Volatility (ann.) | 33.2% | 53.2% |
| Beta vs S&P 500 | -0.25 | 1.23 |
| Max drawdown (3Y) | -27.6% | -74.8% |
| Market cap | $98.6B | $1.3B |
| P/E (trailing) | 11.2 | 20.4 |
| Dividend yield | 3.73% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | LGIH |
|---|---|---|
| 2022 | +42.8% | -40.1% |
| 2023 | -0.8% | +43.8% |
| 2024 | -16.0% | -32.9% |
| 2025 | +6.1% | -51.9% |
| 2026 | +81.8% | +32.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and LGIH good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EQNR and LGIH?
The EQNR/LGIH correlation stands at -0.27 on a 3-year window (1 year: -0.41, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is LGIH a good diversifier for EQNR?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/eqnr-vs-lgih.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqnr-vs-lgih/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EQNR correlations · LGIH correlations
