EQNR vs SU: Correlation
Measured on weekly returns over the past three years, Equinor ASA (EQNR) and Suncor Energy Inc. (SU) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and SU?
Over the past 3 years, EQNR and SU moved with a correlation of 0.72, which is strong. Little has changed lately, as the 1-year reading of 0.79 lands near the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 693.1 %².
Few assets follow EQNR as closely as SU, which ranks #2 of 79 tracked partners. On 12-month performance EQNR holds a 12.9-point edge, +77.2% against +64.3%.
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 SU: side by side
| EQNR (Equinor ASA) | SU (Suncor Energy Inc.) | |
|---|---|---|
| 1-year return | +77.2% | +64.3% |
| 5-year return | +180.6% | +325.4% |
| Volatility (ann.) | 33.2% | 29.1% |
| Beta vs S&P 500 | -0.25 | 0.13 |
| Max drawdown (3Y) | -27.6% | -22.7% |
| Market cap | $98.6B | $78.4B |
| P/E (trailing) | 11.2 | 12.1 |
| Dividend yield | 3.73% | 3.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | SU |
|---|---|---|
| 2022 | +42.8% | +32.3% |
| 2023 | -0.8% | +6.0% |
| 2024 | -16.0% | +16.2% |
| 2025 | +6.1% | +27.1% |
| 2026 | +81.8% | +51.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and SU good diversifiers for each other?
Only partially. A correlation of 0.72 means EQNR and SU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EQNR and SU?
The EQNR/SU correlation stands at 0.72 on a 3-year window (1 year: 0.79, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is SU a good diversifier for EQNR?
Only partially. A correlation of 0.72 means EQNR and SU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 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-su.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqnr-vs-su/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQNR correlations · SU correlations
