EXE vs VET: Correlation
How closely do Expand Energy (EXE) and Vermilion Energy Inc. Common (Canada) (VET) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXE and VET?
Over the past 3 years, EXE and VET moved with a correlation of 0.56, which is moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 683.8 %².
By 3-year correlation, VET places #9 of the 32 assets tracked against EXE. Their recent paths diverged sharply: over the last 12 months VET outperformed by 63.2 percentage points (+5.2% for EXE against +68.4% for VET). Risk is not evenly split, since VET carries 1.5 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.
EXE vs VET: side by side
| EXE (Expand Energy) | VET (Vermilion Energy Inc. Common (Canada)) | |
|---|---|---|
| 1-year return | +5.2% | +68.4% |
| 5-year return | +125.8% | +115.2% |
| Volatility (ann.) | 28.2% | 43.6% |
| Beta vs S&P 500 | 0.31 | 0.31 |
| Max drawdown (3Y) | -28.4% | -63.4% |
| Market cap | $22.7B | $1.9B |
| P/E (trailing) | 8.3 | – |
| Dividend yield | 3.30% | 4.32% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EXE | VET |
|---|---|---|
| 2022 | +62.3% | +42.1% |
| 2023 | -14.8% | -30.3% |
| 2024 | +33.2% | -19.4% |
| 2025 | +14.4% | -9.1% |
| 2026 | -9.6% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXE and VET good diversifiers for each other?
To a limited degree. At 0.56 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 EXE and VET?
As of 2026-08-27, the correlation of weekly returns between EXE and VET is 0.56 over 3 years, 0.61 over 1 year and 0.59 over 5 years.
Is VET a good diversifier for EXE?
To a limited degree. At 0.56 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 0.56 mean?
On the −1 to +1 scale, 0.56 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/exe-vs-vet.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exe-vs-vet/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXE correlations · VET correlations
