GTE vs OBE: Correlation
Gran Tierra Energy Inc. (GTE) and Obsidian Energy Ltd. (OBE) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTE and OBE?
Across a 3-year window, the weekly returns of GTE and OBE correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 1887.5 %².
Few assets follow GTE as closely as OBE, which ranks #1 of 13 tracked partners. The last year tells two different stories: GTE led by 49.7 percentage points, +143.0% for GTE against +93.3% for OBE.
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.
GTE vs OBE: side by side
| GTE (Gran Tierra Energy Inc.) | OBE (Obsidian Energy Ltd.) | |
|---|---|---|
| 1-year return | +143.0% | +93.3% |
| 5-year return | +90.8% | +339.0% |
| Volatility (ann.) | 60.6% | 50.2% |
| Beta vs S&P 500 | 0.32 | 0.38 |
| Max drawdown (3Y) | -66.9% | -56.4% |
| Market cap | $0.4B | $0.8B |
| P/E (trailing) | – | 36.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTE | OBE |
|---|---|---|
| 2022 | +30.3% | +61.2% |
| 2023 | -43.0% | +2.1% |
| 2024 | +28.2% | -14.6% |
| 2025 | -41.4% | +5.9% |
| 2026 | +138.4% | +92.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTE and OBE good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GTE and OBE?
As of 2026-08-27, the correlation of weekly returns between GTE and OBE is 0.62 over 3 years, 0.54 over 1 year and 0.62 over 5 years.
Is OBE a good diversifier for GTE?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gte-vs-obe.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gte-vs-obe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GTE correlations · OBE correlations
