OBE vs VKI: Correlation
Measured on weekly returns over the past three years, Obsidian Energy Ltd. (OBE) and Invesco Advantage Municipal Income Trust II (VKI) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OBE and VKI?
Over the past 3 years, OBE and VKI moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.27). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -190.1 %².
Out of 18 assets tracked against OBE, VKI lands near the bottom at #17. Correlation aside, the last 12 months split them widely, with OBE ahead by 77.6 points (+93.3% versus +15.7%). One caveat on sizing: OBE is 3.6 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 VKI: side by side
| OBE (Obsidian Energy Ltd.) | VKI (Invesco Advantage Municipal Income Trust II) | |
|---|---|---|
| 1-year return | +93.3% | +15.7% |
| 5-year return | +339.0% | -5.1% |
| Volatility (ann.) | 50.2% | 13.9% |
| Beta vs S&P 500 | 0.38 | 0.32 |
| Max drawdown (3Y) | -56.4% | -12.4% |
| Market cap | $0.8B | $0.4B |
| P/E (trailing) | 36.9 | 35.6 |
| Dividend yield | 0.00% | 7.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OBE | VKI |
|---|---|---|
| 2022 | +61.2% | -25.5% |
| 2023 | +2.1% | +3.1% |
| 2024 | -14.6% | +10.2% |
| 2025 | +5.9% | +12.8% |
| 2026 | +92.7% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OBE and VKI good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between OBE and VKI?
As of 2026-08-27, the correlation of weekly returns between OBE and VKI is -0.27 over 3 years, -0.42 over 1 year and -0.09 over 5 years.
Is VKI a good diversifier for OBE?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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/obe-vs-vki.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/obe-vs-vki/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OBE correlations · VKI correlations
