GTE vs OXY: Correlation
How closely do Gran Tierra Energy Inc. (GTE) and Occidental Petroleum (OXY) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTE and OXY?
Across a 3-year window, the weekly returns of GTE and OXY correlate at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 1091.5 %².
Among the 13 assets we track against GTE, OXY ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GTE ahead by 114.1 points (+143.0% versus +28.9%). Risk is not evenly split, since GTE carries 2.0 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.
GTE vs OXY: side by side
| GTE (Gran Tierra Energy Inc.) | OXY (Occidental Petroleum) | |
|---|---|---|
| 1-year return | +143.0% | +28.9% |
| 5-year return | +90.8% | +150.8% |
| Volatility (ann.) | 60.6% | 30.6% |
| Beta vs S&P 500 | 0.32 | 0.13 |
| Max drawdown (3Y) | -66.9% | -46.9% |
| Market cap | $0.4B | $59.1B |
| P/E (trailing) | – | 17.3 |
| Dividend yield | 0.00% | 1.71% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | GTE | OXY |
|---|---|---|
| 2022 | +30.3% | +119.1% |
| 2023 | -43.0% | -4.1% |
| 2024 | +28.2% | -15.9% |
| 2025 | -41.4% | -14.9% |
| 2026 | +138.4% | +45.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTE and OXY good diversifiers for each other?
Only partially. A correlation of 0.59 means GTE and OXY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GTE and OXY?
The GTE/OXY correlation stands at 0.59 on a 3-year window (1 year: 0.49, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is OXY a good diversifier for GTE?
Only partially. A correlation of 0.59 means GTE and OXY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GTE correlations · OXY correlations
