VET vs VGM: Correlation
Measured on weekly returns over the past three years, Vermilion Energy Inc. Common (Canada) (VET) and Invesco Trust for Investment Grade Municipals (VGM) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VET and VGM?
Across a 3-year window, the weekly returns of VET and VGM correlate at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.61) than the 3-year average (-0.25). Stretching to 5 years gives -0.09, with an annualized covariance of -135.0 %².
Among the 29 assets we track against VET, VGM sits near the bottom by co-movement, at rank #27. Their recent paths diverged sharply: over the last 12 months VET outperformed by 51.1 percentage points (+68.4% for VET against +17.3% for VGM). Risk is not evenly split, since VET carries 3.6 times the volatility of the other side.
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.
VET vs VGM: side by side
| VET (Vermilion Energy Inc. Common (Canada)) | VGM (Invesco Trust for Investment Grade Municipals) | |
|---|---|---|
| 1-year return | +68.4% | +17.3% |
| 5-year return | +115.2% | -0.8% |
| Volatility (ann.) | 43.6% | 12.2% |
| Beta vs S&P 500 | 0.31 | 0.30 |
| Max drawdown (3Y) | -63.4% | -11.5% |
| Market cap | $1.9B | $0.6B |
| P/E (trailing) | – | 33.5 |
| Dividend yield | 4.32% | 7.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VET | VGM |
|---|---|---|
| 2022 | +42.1% | -24.2% |
| 2023 | -30.3% | +3.0% |
| 2024 | -19.4% | +8.8% |
| 2025 | -9.1% | +11.1% |
| 2026 | +55.0% | +5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VET and VGM good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between VET and VGM?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.61 over the last year and -0.09 over 5 years.
Is VGM a good diversifier for VET?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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.
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Related comparisons
Hubs: VET correlations · VGM correlations
