OXY vs VET: Correlation
Measured on weekly returns over the past three years, Occidental Petroleum (OXY) and Vermilion Energy Inc. Common (Canada) (VET) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OXY and VET?
Across a 3-year window, the weekly returns of OXY and VET correlate at 0.78, strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.78 over 3. Stretching to 5 years gives 0.68, with an annualized covariance of 1040.3 %².
Within OXY's tracked universe of 38 assets, VET comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VET outperformed by 39.5 percentage points (+28.9% for OXY against +68.4% for VET).
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.
OXY vs VET: side by side
| OXY (Occidental Petroleum) | VET (Vermilion Energy Inc. Common (Canada)) | |
|---|---|---|
| 1-year return | +28.9% | +68.4% |
| 5-year return | +150.8% | +115.2% |
| Volatility (ann.) | 30.6% | 43.6% |
| Beta vs S&P 500 | 0.13 | 0.31 |
| Max drawdown (3Y) | -46.9% | -63.4% |
| Market cap | $59.1B | $1.9B |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 1.71% | 4.32% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | OXY | VET |
|---|---|---|
| 2022 | +119.1% | +42.1% |
| 2023 | -4.1% | -30.3% |
| 2024 | -15.9% | -19.4% |
| 2025 | -14.9% | -9.1% |
| 2026 | +45.2% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OXY and VET good diversifiers for each other?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between OXY and VET?
The OXY/VET correlation stands at 0.78 on a 3-year window (1 year: 0.75, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is VET a good diversifier for OXY?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 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
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Related comparisons
Hubs: OXY correlations · VET correlations
