EQT vs EXE: Correlation
EQT Corporation (EQT) and Expand Energy (EXE) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQT and EXE?
Over the past 3 years, EQT and EXE moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.83 over 3. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 798.4 %².
EXE is one of the assets that tracks EQT most closely: it ranks #1 out of the 31 assets we track against EQT. Their 12-month results are close: +7.9% for EQT against +5.2% for EXE. Stability stands out here, with the rolling one-year correlation confined to 0.73 through 0.90.
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.
EQT vs EXE: side by side
| EQT (EQT Corporation) | EXE (Expand Energy) | |
|---|---|---|
| 1-year return | +7.9% | +5.2% |
| 5-year return | +224.8% | +125.8% |
| Volatility (ann.) | 34.1% | 28.2% |
| Beta vs S&P 500 | 0.52 | 0.31 |
| Max drawdown (3Y) | -31.6% | -28.4% |
| Market cap | $34.3B | $22.7B |
| P/E (trailing) | 12.7 | 8.3 |
| Dividend yield | 1.19% | 3.30% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | EQT | EXE |
|---|---|---|
| 2022 | +57.6% | +62.3% |
| 2023 | +16.2% | -14.8% |
| 2024 | +21.4% | +33.2% |
| 2025 | +17.6% | +14.4% |
| 2026 | +3.1% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQT and EXE good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between EQT and EXE?
Using weekly returns as of 2026-08-27: 0.83 over 3 years, with 0.83 over the last year and 0.79 over 5 years.
Is EXE a good diversifier for EQT?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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: EQT correlations · EXE correlations
