EQNR vs LOW: Correlation
Measured on weekly returns over the past three years, Equinor ASA (EQNR) and Lowe's (LOW) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and LOW?
On 3 years of weekly data the EQNR/LOW correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.29). The 5-year figure is -0.16, and annualized covariance runs at -238.5 %².
By 3-year correlation, LOW places #67 of the 79 assets tracked against EQNR. Correlation aside, the last 12 months split them widely, with EQNR ahead by 95.6 points (+77.2% versus -18.4%).
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 LOW: side by side
| EQNR (Equinor ASA) | LOW (Lowe's) | |
|---|---|---|
| 1-year return | +77.2% | -18.4% |
| 5-year return | +180.6% | +11.1% |
| Volatility (ann.) | 33.2% | 24.8% |
| Beta vs S&P 500 | -0.25 | 0.83 |
| Max drawdown (3Y) | -27.6% | -29.0% |
| Market cap | $98.6B | – |
| P/E (trailing) | 11.2 | 17.8 |
| Dividend yield | 3.73% | 2.31% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | EQNR | LOW |
|---|---|---|
| 2022 | +42.8% | -21.5% |
| 2023 | -0.8% | +14.0% |
| 2024 | -16.0% | +13.0% |
| 2025 | +6.1% | -0.3% |
| 2026 | +81.8% | -12.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and LOW good diversifiers for each other?
Yes. With a correlation of -0.29, EQNR and LOW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EQNR and LOW?
The EQNR/LOW correlation stands at -0.29 on a 3-year window (1 year: -0.42, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is LOW a good diversifier for EQNR?
Yes. With a correlation of -0.29, EQNR and LOW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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
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Related comparisons
Hubs: EQNR correlations · LOW correlations
