EQNR vs SGI: Correlation
How closely do Equinor ASA (EQNR) and Somnigroup International Inc. (SGI) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and SGI?
Across a 3-year window, the weekly returns of EQNR and SGI correlate at -0.26, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.50) runs below the 3-year figure (-0.26). Stretching to 5 years gives -0.08, with an annualized covariance of -293.3 %².
Among the 79 assets we track against EQNR, SGI ranks #57 by 3-year correlation. The last year tells two different stories: EQNR led by 102.6 percentage points, +77.2% for EQNR against -25.4% for SGI.
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 SGI: side by side
| EQNR (Equinor ASA) | SGI (Somnigroup International Inc.) | |
|---|---|---|
| 1-year return | +77.2% | -25.4% |
| 5-year return | +180.6% | +44.9% |
| Volatility (ann.) | 33.2% | 33.8% |
| Beta vs S&P 500 | -0.25 | 1.02 |
| Max drawdown (3Y) | -27.6% | -37.1% |
| Market cap | $98.6B | $13.1B |
| P/E (trailing) | 11.2 | 24.8 |
| Dividend yield | 3.73% | 1.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | SGI |
|---|---|---|
| 2022 | +42.8% | -26.0% |
| 2023 | -0.8% | +50.1% |
| 2024 | -16.0% | +12.3% |
| 2025 | +6.1% | +58.8% |
| 2026 | +81.8% | -29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and SGI good diversifiers for each other?
Yes. With a correlation of -0.26, EQNR and SGI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EQNR and SGI?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.50 over the last year and -0.08 over 5 years.
Is SGI a good diversifier for EQNR?
Yes. With a correlation of -0.26, EQNR and SGI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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.
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Related comparisons
Hubs: EQNR correlations · SGI correlations
