OBE vs REYN: Correlation
Measured on weekly returns over the past three years, Obsidian Energy Ltd. (OBE) and Reynolds Consumer Products Inc. (REYN) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OBE and REYN?
On 3 years of weekly data the OBE/REYN correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.48) runs below the 3-year figure (-0.28). The 5-year figure is -0.19, and annualized covariance runs at -291.9 %².
Among the 18 assets we track against OBE, REYN sits near the bottom by co-movement, at rank #18. Correlation aside, the last 12 months split them widely, with OBE ahead by 83.6 points (+93.3% versus +9.7%). One caveat on sizing: OBE is 2.4 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.
OBE vs REYN: side by side
| OBE (Obsidian Energy Ltd.) | REYN (Reynolds Consumer Products Inc.) | |
|---|---|---|
| 1-year return | +93.3% | +9.7% |
| 5-year return | +339.0% | +1.4% |
| Volatility (ann.) | 50.2% | 21.1% |
| Beta vs S&P 500 | 0.38 | 0.24 |
| Max drawdown (3Y) | -56.4% | -33.4% |
| Market cap | $0.8B | $5.1B |
| P/E (trailing) | 36.9 | 14.8 |
| Dividend yield | 0.00% | 3.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OBE | REYN |
|---|---|---|
| 2022 | +61.2% | -1.5% |
| 2023 | +2.1% | -7.5% |
| 2024 | -14.6% | +3.8% |
| 2025 | +5.9% | -11.7% |
| 2026 | +92.7% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OBE and REYN good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between OBE and REYN?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.48 over the last year and -0.19 over 5 years.
Is REYN a good diversifier for OBE?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/obe-vs-reyn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/obe-vs-reyn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OBE correlations · REYN correlations
