EQNR vs VET: Correlation
How closely do Equinor ASA (EQNR) and Vermilion Energy Inc. Common (Canada) (VET) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and VET?
Across a 3-year window, the weekly returns of EQNR and VET correlate at 0.76, strong. Recent behaviour matches the longer record: 0.83 over 1 year against 0.76 over 3. Stretching to 5 years gives 0.74, with an annualized covariance of 1104.5 %².
VET is one of the assets that tracks EQNR most closely: it ranks #1 out of the 79 assets we track against EQNR. The trailing year gives EQNR the advantage: +77.2% versus +68.4%, a 8.8-point spread.
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 VET: side by side
| EQNR (Equinor ASA) | VET (Vermilion Energy Inc. Common (Canada)) | |
|---|---|---|
| 1-year return | +77.2% | +68.4% |
| 5-year return | +180.6% | +115.2% |
| Volatility (ann.) | 33.2% | 43.6% |
| Beta vs S&P 500 | -0.25 | 0.31 |
| Max drawdown (3Y) | -27.6% | -63.4% |
| Market cap | $98.6B | $1.9B |
| P/E (trailing) | 11.2 | – |
| Dividend yield | 3.73% | 4.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | VET |
|---|---|---|
| 2022 | +42.8% | +42.1% |
| 2023 | -0.8% | -30.3% |
| 2024 | -16.0% | -19.4% |
| 2025 | +6.1% | -9.1% |
| 2026 | +81.8% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and VET good diversifiers for each other?
Only partially. A correlation of 0.76 means EQNR and VET 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 VET?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.83 over the last year and 0.74 over 5 years.
Is VET a good diversifier for EQNR?
Only partially. A correlation of 0.76 means EQNR and VET share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
A reading of 0.76 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 · VET correlations
