OVV vs PR: Correlation
Ovintiv Inc. (DE) (OVV) and Permian Resources Corporation (PR) show a very strong relationship: their 3-year correlation of weekly returns is 0.90.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OVV and PR?
Over the past 3 years, OVV and PR moved with a correlation of 0.90, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.88 over 1 year against 0.90 over 3. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 1156.1 %².
Few assets follow OVV as closely as PR, which ranks #1 of 44 tracked partners. On 12-month performance PR holds a 9.1-point edge, +61.2% against +70.3%.
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 PR: side by side
| OVV (Ovintiv Inc. (DE)) | PR (Permian Resources Corporation) | |
|---|---|---|
| 1-year return | +61.2% | +70.3% |
| 5-year return | +175.7% | +430.6% |
| Volatility (ann.) | 36.4% | 35.4% |
| Beta vs S&P 500 | 0.43 | 0.39 |
| Max drawdown (3Y) | -42.2% | -39.9% |
| Market cap | $18.0B | $19.4B |
| P/E (trailing) | 18.0 | 14.7 |
| Dividend yield | 1.86% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OVV | PR |
|---|---|---|
| 2022 | +53.3% | +57.9% |
| 2023 | -10.9% | +49.4% |
| 2024 | -5.2% | +10.7% |
| 2025 | -0.3% | +1.9% |
| 2026 | +68.1% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OVV and PR good diversifiers for each other?
No: a correlation of 0.90 means OVV and PR tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between OVV and PR?
As of 2026-08-27, the correlation of weekly returns between OVV and PR is 0.90 over 3 years, 0.88 over 1 year and 0.80 over 5 years.
Is PR a good diversifier for OVV?
No: a correlation of 0.90 means OVV and PR tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.90 mean?
A reading of 0.90 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/ovv-vs-pr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ovv-vs-pr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OVV correlations · PR correlations
