OVV vs PNRG: Correlation
Ovintiv Inc. (DE) (OVV) and PrimeEnergy Resources Corporation (PNRG) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OVV and PNRG?
Over the past 3 years, OVV and PNRG moved with a correlation of 0.44, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.44 over 3. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 873.3 %².
By 3-year correlation, PNRG places #38 of the 44 assets tracked against OVV. Correlation aside, the last 12 months split them widely, with OVV ahead by 24.0 points (+61.2% versus +37.2%). Note the risk asymmetry: PNRG runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
OVV vs PNRG: side by side
| OVV (Ovintiv Inc. (DE)) | PNRG (PrimeEnergy Resources Corporation) | |
|---|---|---|
| 1-year return | +61.2% | +37.2% |
| 5-year return | +175.7% | +312.9% |
| Volatility (ann.) | 36.4% | 54.8% |
| Beta vs S&P 500 | 0.43 | 0.69 |
| Max drawdown (3Y) | -42.2% | -44.6% |
| Market cap | $18.0B | $0.3B |
| P/E (trailing) | 18.0 | 20.2 |
| Dividend yield | 1.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OVV | PNRG |
|---|---|---|
| 2022 | +53.3% | +23.9% |
| 2023 | -10.9% | +22.4% |
| 2024 | -5.2% | +106.5% |
| 2025 | -0.3% | -22.1% |
| 2026 | +68.1% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OVV and PNRG good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OVV and PNRG?
As of 2026-08-27, the correlation of weekly returns between OVV and PNRG is 0.44 over 3 years, 0.50 over 1 year and 0.37 over 5 years.
Is PNRG a good diversifier for OVV?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/ovv-vs-pnrg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ovv-vs-pnrg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OVV correlations · PNRG correlations
