MPC vs OVV: Correlation
How closely do Marathon Petroleum (MPC) and Ovintiv Inc. (DE) (OVV) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPC and OVV?
Across a 3-year window, the weekly returns of MPC and OVV correlate at 0.65, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 805.6 %².
Within MPC's tracked universe of 29 assets, OVV comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MPC outperformed by 46.6 percentage points (+107.8% for MPC against +61.2% for OVV).
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.
MPC vs OVV: side by side
| MPC (Marathon Petroleum) | OVV (Ovintiv Inc. (DE)) | |
|---|---|---|
| 1-year return | +107.8% | +61.2% |
| 5-year return | +589.6% | +175.7% |
| Volatility (ann.) | 34.2% | 36.4% |
| Beta vs S&P 500 | 0.48 | 0.43 |
| Max drawdown (3Y) | -44.7% | -42.2% |
| Market cap | $102.1B | $18.0B |
| P/E (trailing) | 12.6 | 18.0 |
| Dividend yield | 1.10% | 1.86% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | MPC | OVV |
|---|---|---|
| 2022 | +86.6% | +53.3% |
| 2023 | +30.5% | -10.9% |
| 2024 | -4.1% | -5.2% |
| 2025 | +19.2% | -0.3% |
| 2026 | +126.1% | +68.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPC and OVV good diversifiers for each other?
To a limited degree. At 0.65 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 MPC and OVV?
The MPC/OVV correlation stands at 0.65 on a 3-year window (1 year: 0.61, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is OVV a good diversifier for MPC?
To a limited degree. At 0.65 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 0.65 mean?
A reading of 0.65 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/mpc-vs-ovv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mpc-vs-ovv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MPC correlations · OVV correlations
