EQNR vs VMC: Correlation
Measured on weekly returns over the past three years, Equinor ASA (EQNR) and Vulcan Materials Company (VMC) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and VMC?
Across a 3-year window, the weekly returns of EQNR and VMC correlate at -0.34, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.53 versus -0.34 over 3 years. Stretching to 5 years gives -0.11, with an annualized covariance of -284.7 %².
Among the 79 assets we track against EQNR, VMC sits near the bottom by co-movement, at rank #77. Correlation aside, the last 12 months split them widely, with EQNR ahead by 82.4 points (+77.2% versus -5.2%).
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 VMC: side by side
| EQNR (Equinor ASA) | VMC (Vulcan Materials Company) | |
|---|---|---|
| 1-year return | +77.2% | -5.2% |
| 5-year return | +180.6% | +53.2% |
| Volatility (ann.) | 33.2% | 25.2% |
| Beta vs S&P 500 | -0.25 | 0.82 |
| Max drawdown (3Y) | -27.6% | -24.4% |
| Market cap | $98.6B | $35.5B |
| P/E (trailing) | 11.2 | 32.3 |
| Dividend yield | 3.73% | 0.74% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | EQNR | VMC |
|---|---|---|
| 2022 | +42.8% | -14.9% |
| 2023 | -0.8% | +30.8% |
| 2024 | -16.0% | +14.1% |
| 2025 | +6.1% | +11.7% |
| 2026 | +81.8% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and VMC good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQNR and VMC?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.53 over the last year and -0.11 over 5 years.
Is VMC a good diversifier for EQNR?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
A reading of -0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eqnr-vs-vmc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqnr-vs-vmc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EQNR correlations · VMC correlations
