NOV vs PEO: Correlation
NOV Inc. (NOV) and Adams Natural Resources Fund, Inc. (PEO) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOV and PEO?
Across a 3-year window, the weekly returns of NOV and PEO correlate at 0.73, strong. The link has loosened recently: the 1-year correlation (0.62) runs below the 3-year figure (0.73). Stretching to 5 years gives 0.77, with an annualized covariance of 525.5 %².
By 3-year correlation, PEO places #5 of the 27 assets tracked against NOV. Their recent paths diverged sharply: over the last 12 months NOV outperformed by 20.6 percentage points (+62.2% for NOV against +41.6% for PEO). One caveat on sizing: NOV is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NOV vs PEO: side by side
| NOV (NOV Inc.) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +62.2% | +41.6% |
| 5-year return | +71.8% | +179.3% |
| Volatility (ann.) | 35.6% | 20.2% |
| Beta vs S&P 500 | 0.61 | 0.30 |
| Max drawdown (3Y) | -47.2% | -18.9% |
| Market cap | $7.4B | $0.8B |
| P/E (trailing) | 74.1 | 4.8 |
| Dividend yield | 1.63% | 7.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOV | PEO |
|---|---|---|
| 2022 | +55.7% | +41.8% |
| 2023 | -1.8% | +0.9% |
| 2024 | -26.8% | +13.6% |
| 2025 | +11.3% | +10.0% |
| 2026 | +34.6% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOV and PEO good diversifiers for each other?
To a limited degree. At 0.73 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 NOV and PEO?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.62 over the last year and 0.77 over 5 years.
Is PEO a good diversifier for NOV?
To a limited degree. At 0.73 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 0.73 mean?
On the −1 to +1 scale, 0.73 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/nov-vs-peo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nov-vs-peo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NOV correlations · PEO correlations
