OVV vs VET: Correlation
Ovintiv Inc. (DE) (OVV) and Vermilion Energy Inc. Common (Canada) (VET) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OVV and VET?
Over the past 3 years, OVV and VET moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 1310.7 %².
By 3-year correlation, VET places #8 of the 44 assets tracked against OVV. On 12-month performance VET holds a 7.2-point edge, +61.2% against +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.
OVV vs VET: side by side
| OVV (Ovintiv Inc. (DE)) | VET (Vermilion Energy Inc. Common (Canada)) | |
|---|---|---|
| 1-year return | +61.2% | +68.4% |
| 5-year return | +175.7% | +115.2% |
| Volatility (ann.) | 36.4% | 43.6% |
| Beta vs S&P 500 | 0.43 | 0.31 |
| Max drawdown (3Y) | -42.2% | -63.4% |
| Market cap | $18.0B | $1.9B |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.86% | 4.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OVV | VET |
|---|---|---|
| 2022 | +53.3% | +42.1% |
| 2023 | -10.9% | -30.3% |
| 2024 | -5.2% | -19.4% |
| 2025 | -0.3% | -9.1% |
| 2026 | +68.1% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OVV and VET good diversifiers for each other?
No: a correlation of 0.83 means OVV and VET tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between OVV and VET?
As of 2026-08-27, the correlation of weekly returns between OVV and VET is 0.83 over 3 years, 0.78 over 1 year and 0.75 over 5 years.
Is VET a good diversifier for OVV?
No: a correlation of 0.83 means OVV and VET tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 mean?
A reading of 0.83 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: OVV correlations · VET correlations
