OBE vs VET: Correlation
How closely do Obsidian Energy Ltd. (OBE) and Vermilion Energy Inc. Common (Canada) (VET) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OBE and VET?
Across a 3-year window, the weekly returns of OBE and VET correlate at 0.71, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. Stretching to 5 years gives 0.71, with an annualized covariance of 1563.0 %².
Among the 18 assets we track against OBE, VET ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OBE ahead by 24.9 points (+93.3% versus +68.4%).
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 VET: side by side
| OBE (Obsidian Energy Ltd.) | VET (Vermilion Energy Inc. Common (Canada)) | |
|---|---|---|
| 1-year return | +93.3% | +68.4% |
| 5-year return | +339.0% | +115.2% |
| Volatility (ann.) | 50.2% | 43.6% |
| Beta vs S&P 500 | 0.38 | 0.31 |
| Max drawdown (3Y) | -56.4% | -63.4% |
| Market cap | $0.8B | $1.9B |
| P/E (trailing) | 36.9 | – |
| Dividend yield | 0.00% | 4.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OBE | VET |
|---|---|---|
| 2022 | +61.2% | +42.1% |
| 2023 | +2.1% | -30.3% |
| 2024 | -14.6% | -19.4% |
| 2025 | +5.9% | -9.1% |
| 2026 | +92.7% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OBE and VET good diversifiers for each other?
Only partially. A correlation of 0.71 means OBE and VET 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 OBE and VET?
As of 2026-08-27, the correlation of weekly returns between OBE and VET is 0.71 over 3 years, 0.67 over 1 year and 0.71 over 5 years.
Is VET a good diversifier for OBE?
Only partially. A correlation of 0.71 means OBE and VET share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
A reading of 0.71 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: OBE correlations · VET correlations
