EQNR vs SVRA: Correlation
How closely do Equinor ASA (EQNR) and Savara, Inc. (SVRA) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and SVRA?
Over the past 3 years, EQNR and SVRA moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.38) runs below the 3-year figure (-0.24). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -425.5 %².
By 3-year correlation, SVRA places #51 of the 79 assets tracked against EQNR. On 12-month performance EQNR holds a 10.3-point edge, +77.2% against +66.9%. Risk is not evenly split, since SVRA carries 1.6 times the volatility of the other side.
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 SVRA: side by side
| EQNR (Equinor ASA) | SVRA (Savara, Inc.) | |
|---|---|---|
| 1-year return | +77.2% | +66.9% |
| 5-year return | +180.6% | +286.6% |
| Volatility (ann.) | 33.2% | 53.3% |
| Beta vs S&P 500 | -0.25 | 1.15 |
| Max drawdown (3Y) | -27.6% | -65.3% |
| Market cap | $98.6B | $1.1B |
| P/E (trailing) | 11.2 | – |
| Dividend yield | 3.73% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | SVRA |
|---|---|---|
| 2022 | +42.8% | +25.0% |
| 2023 | -0.8% | +203.2% |
| 2024 | -16.0% | -34.7% |
| 2025 | +6.1% | +96.4% |
| 2026 | +81.8% | -9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and SVRA good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQNR and SVRA?
As of 2026-08-27, the correlation of weekly returns between EQNR and SVRA is -0.24 over 3 years, -0.38 over 1 year and -0.14 over 5 years.
Is SVRA a good diversifier for EQNR?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EQNR correlations · SVRA correlations
