EQT vs OVV: Correlation
Measured on weekly returns over the past three years, EQT Corporation (EQT) and Ovintiv Inc. (DE) (OVV) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQT and OVV?
Over the past 3 years, EQT and OVV moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 622.7 %².
Among the 31 assets we track against EQT, OVV ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OVV ahead by 53.3 points (+7.9% versus +61.2%).
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.
EQT vs OVV: side by side
| EQT (EQT Corporation) | OVV (Ovintiv Inc. (DE)) | |
|---|---|---|
| 1-year return | +7.9% | +61.2% |
| 5-year return | +224.8% | +175.7% |
| Volatility (ann.) | 34.1% | 36.4% |
| Beta vs S&P 500 | 0.52 | 0.43 |
| Max drawdown (3Y) | -31.6% | -42.2% |
| Market cap | $34.3B | $18.0B |
| P/E (trailing) | 12.7 | 18.0 |
| Dividend yield | 1.19% | 1.86% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EQT | OVV |
|---|---|---|
| 2022 | +57.6% | +53.3% |
| 2023 | +16.2% | -10.9% |
| 2024 | +21.4% | -5.2% |
| 2025 | +17.6% | -0.3% |
| 2026 | +3.1% | +68.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQT and OVV good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EQT and OVV?
The EQT/OVV correlation stands at 0.50 on a 3-year window (1 year: 0.49, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is OVV a good diversifier for EQT?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
A reading of 0.50 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/eqt-vs-ovv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eqt-vs-ovv/)
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Related comparisons
Hubs: EQT correlations · OVV correlations
