VET vs VKI: Correlation
Vermilion Energy Inc. Common (Canada) (VET) and Invesco Advantage Municipal Income Trust II (VKI) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VET and VKI?
Across a 3-year window, the weekly returns of VET and VKI correlate at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.56 versus -0.28 over 3 years. Stretching to 5 years gives -0.10, with an annualized covariance of -171.9 %².
Out of 29 assets tracked against VET, VKI lands near the bottom at #29. Their recent paths diverged sharply: over the last 12 months VET outperformed by 52.7 percentage points (+68.4% for VET against +15.7% for VKI). One caveat on sizing: VET is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VKI: side by side
| VET (Vermilion Energy Inc. Common (Canada)) | VKI (Invesco Advantage Municipal Income Trust II) | |
|---|---|---|
| 1-year return | +68.4% | +15.7% |
| 5-year return | +115.2% | -5.1% |
| Volatility (ann.) | 43.6% | 13.9% |
| Beta vs S&P 500 | 0.31 | 0.32 |
| Max drawdown (3Y) | -63.4% | -12.4% |
| Market cap | $1.9B | $0.4B |
| P/E (trailing) | – | 35.6 |
| Dividend yield | 4.32% | 7.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VET | VKI |
|---|---|---|
| 2022 | +42.1% | -25.5% |
| 2023 | -30.3% | +3.1% |
| 2024 | -19.4% | +10.2% |
| 2025 | -9.1% | +12.8% |
| 2026 | +55.0% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VET and VKI good diversifiers for each other?
Yes. With a correlation of -0.28, VET and VKI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VET and VKI?
The VET/VKI correlation stands at -0.28 on a 3-year window (1 year: -0.56, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is VKI a good diversifier for VET?
Yes. With a correlation of -0.28, VET and VKI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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/vet-vs-vki.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vet-vs-vki/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VET correlations · VKI correlations
