EasyCompare

Relative Intelligence · Integrated Oil & Gas

How Equinor ASA (EQNR) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on EQNR alone. It places EQNR (Equinor ASA) against 16 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where EQNR stands in the market, and of the alternatives worth a closer look.

Period covered: EQNR's full trading record, from June 2001 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against EQNR →Chart EQNR vs. 16 alternatives →
On this page12 sections

Key findings

How much would $10,000 in EQNR have grown?

This chart tracks a hypothetical $10,000 investment in EQNR over the past 25 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of EQNR over the same span and EQNR's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 2001 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 276 of the 1,326 stocks and funds worth at least $500 million that traded the whole period ended ahead of EQNR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M2001200520092013201720212025$10,000$100,000$1M20012007201320192025
  • LNG$5M+49,079% total · +28.1% a year
  • FRO$487,805+4,778% total · +16.8% a year
  • EOG$285,678+2,757% total · +14.3% a year
  • PBR-A$261,250+2,513% total · +13.9% a year
  • PBR$254,233+2,442% total · +13.8% a year
  • EQNR$249,121+2,391% total · +13.7% a year
  • SU$174,925+1,649% total · +12.1% a year
  • SPY (S&P 500)$114,557+1,046% total · +10.2% a year
  • E$94,438+844% total · +9.4% a year
  • SHEL$63,241+532% total · +7.7% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 542 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of EQNR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$20,000$40,000$60,000$80,000$100,000$120,000202120222023202420252026$0$50,000$100,000$150,000202120222023202420252026
  • YPF$107,580+976% total · +60.8% a year
  • PBR$64,214+542% total · +45.1% a year
  • SU$40,398+304% total · +32.2% a year
  • CVE$35,159+252% total · +28.6% a year
  • XOM$32,965+230% total · +26.9% a year
  • LNG$28,953+190% total · +23.7% a year
  • E$27,904+179% total · +22.8% a year
  • SHEL$25,892+159% total · +21.0% a year
  • EQNR$24,243+142% total · +19.4% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
Change the dates or add tickers to this chart in EasyCompare

EQNR at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$109B
Industry
Oil & Gas Integrated
Price history from
June 2001

Returns

Past 1 year
+107%total return
Past 3 years
+73.2%+20.1% a year
Past 5 years
+141%+19.2% a year
Past 10 years
+416%+17.8% a year
Best calendar year
+64.6%2021
Worst calendar year
−43.2%2008
Losing years
8 of 24full calendar years

Risk

Volatility
34.4%typical yearly swing, 5 years
Sharpe ratio
0.69return per unit of risk, 5 years
Worst decline ever
−68.4%May 2008 to Nov 2008
From its all-time high
−2.6%below the peak

EQNR against the whole market

Where EQNR ranks among every stock and fund, and what across the market has done better.

How does EQNR rank among all stocks?

This section ranks EQNR on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how EQNR stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureEQNRRankStanding
1-year return+107%154 of 3,287top 5%
3-year return+73.2%1,206 of 3,017top 40%
5-year return+141%482 of 2,893top 17%
10-year return+416%399 of 2,202top 18%
Volatility, 5 years34.4%1,101 of 2,893top 38%
Sharpe ratio, 5 years0.69492 of 2,893top 17%
Worst decline, past 10 years−66.8%1,174 of 2,187bottom 47%

What has beaten EQNR on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). EQNR sits where the dashed lines cross. Anything in the green box above and to the left earned more than EQNR with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to EQNR; faint dots are 86 more of the 104 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%55.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than EQNRCOR: +24.2% a year, volatility 22.8%GWW: +26.3% a year, volatility 24.9%CBOE: +21.5% a year, volatility 25.1%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%RS: +24.8% a year, volatility 28.1%MUSA: +26.1% a year, volatility 31.2%WMT: +20.8% a year, volatility 22.6%CAT: +31.1% a year, volatility 31.9%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%APH: +33.8% a year, volatility 32.2%GILD: +22.8% a year, volatility 24.9%MFG: +33.6% a year, volatility 30.6%UBS: +25.4% a year, volatility 30.4%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%VRTX: +22.6% a year, volatility 29.1%BNY: +22.7% a year, volatility 24.4%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%MAR: +22.0% a year, volatility 28.6%MFC: +22.6% a year, volatility 24.0%HLT: +21.0% a year, volatility 26.8%BAP: +30.8% a year, volatility 30.3%KOF: +22.3% a year, volatility 24.7%CW: +30.8% a year, volatility 28.7%IHG: +21.4% a year, volatility 26.6%BCH: +25.2% a year, volatility 28.2%HUBB: +21.0% a year, volatility 30.0%WWD: +23.8% a year, volatility 32.3%APG: +23.0% a year, volatility 31.9%AIT: +28.5% a year, volatility 30.3%DAC: +20.6% a year, volatility 32.0%EWT: +20.4% a year, volatility 24.2%ALSN: +27.3% a year, volatility 29.9%NEU: +21.0% a year, volatility 26.8%AVT: +22.1% a year, volatility 30.7%ACT: +20.5% a year, volatility 24.3%FSS: +23.3% a year, volatility 31.7%ESE: +24.2% a year, volatility 31.1%NHC: +32.0% a year, volatility 28.5%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%ESQ: +31.7% a year, volatility 31.7%FCFS: +20.6% a year, volatility 30.5%IGIC: +30.8% a year, volatility 30.9%DMLP: +21.1% a year, volatility 29.1%DBJP: +20.9% a year, volatility 19.2%EPU: +29.5% a year, volatility 24.9%HSBC: +33.1% a year, volatility 25.9%GE: +36.0% a year, volatility 31.0%ARGT: +22.3% a year, volatility 32.1%FBIZ: +23.1% a year, volatility 29.4%MPLX: +23.5% a year, volatility 18.8%WELL: +26.0% a year, volatility 23.8%ETN: +20.4% a year, volatility 32.1%ING: +24.7% a year, volatility 31.1%LYG: +20.3% a year, volatility 32.1%WAB: +25.6% a year, volatility 26.2%XLE: +22.6% a year, volatility 25.5%SHG: +21.0% a year, volatility 31.1%USFD: +22.7% a year, volatility 29.8%UNM: +30.6% a year, volatility 29.3%WF: +26.3% a year, volatility 31.6%MOG-A: +36.6% a year, volatility 32.0%CLH: +23.1% a year, volatility 28.6%SNX: +20.3% a year, volatility 30.4%RGLD: +20.6% a year, volatility 32.4%TRGP: +41.8% a year, volatility 31.7%WMB: +24.6% a year, volatility 24.0%IMO: +34.3% a year, volatility 32.0%CNQ: +26.5% a year, volatility 32.5%R: +25.1% a year, volatility 32.6%SHEL: +21.0% a year, volatility 24.8%PAA: +27.0% a year, volatility 25.6%IFS: +20.8% a year, volatility 31.1%GVA: +23.8% a year, volatility 30.6%WES: +23.5% a year, volatility 27.6%ARLP: +29.4% a year, volatility 31.6%PAGP: +26.8% a year, volatility 26.1%BLX: +31.4% a year, volatility 25.9%SXI: +20.6% a year, volatility 32.6%IYE: +21.1% a year, volatility 25.2%SBR: +21.4% a year, volatility 31.6%ATMP: +21.2% a year, volatility 21.5%EQNR: +19.2% a year, volatility 34.4%SPY (S&P 500): +12.7% a year, volatility 17.1%SU: +33.1% a year, volatility 32.5%XOM: +27.1% a year, volatility 26.5%E: +23.0% a year, volatility 25.6%LNG: +23.4% a year, volatility 30.2%PBR: +50.3% a year, volatility 37.5%CVX: +19.5% a year, volatility 25.2%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%INSW: +56.5% a year, volatility 40.5%DTM: +24.5% a year, volatility 25.2%FRO: +52.6% a year, volatility 49.7%KMI: +18.7% a year, volatility 22.5%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%MCK: +38.7% a year, volatility 25.0%PGR: +21.3% a year, volatility 25.6%LLY: +40.7% a year, volatility 32.8%SDCI: +20.6% a year, volatility 18.4%WRB: +18.9% a year, volatility 22.9%ASX: +48.8% a year, volatility 43.0%CAH: +42.1% a year, volatility 24.7%HWM: +47.3% a year, volatility 32.5%EQNRSPY (S&P 500)SUXOMELNGPBRCVXMPCINSWDTMFROKMIABBVDXJMCKPGRLLYSDCIWRBASXCAHHWM10.0%20.0%30.0%40.0%50.0%60.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than EQNRCOR: +24.2% a year, volatility 22.8%GWW: +26.3% a year, volatility 24.9%CBOE: +21.5% a year, volatility 25.1%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%RS: +24.8% a year, volatility 28.1%MUSA: +26.1% a year, volatility 31.2%WMT: +20.8% a year, volatility 22.6%CAT: +31.1% a year, volatility 31.9%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%APH: +33.8% a year, volatility 32.2%GILD: +22.8% a year, volatility 24.9%MFG: +33.6% a year, volatility 30.6%UBS: +25.4% a year, volatility 30.4%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%VRTX: +22.6% a year, volatility 29.1%BNY: +22.7% a year, volatility 24.4%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%MAR: +22.0% a year, volatility 28.6%MFC: +22.6% a year, volatility 24.0%HLT: +21.0% a year, volatility 26.8%BAP: +30.8% a year, volatility 30.3%KOF: +22.3% a year, volatility 24.7%CW: +30.8% a year, volatility 28.7%IHG: +21.4% a year, volatility 26.6%BCH: +25.2% a year, volatility 28.2%HUBB: +21.0% a year, volatility 30.0%WWD: +23.8% a year, volatility 32.3%APG: +23.0% a year, volatility 31.9%AIT: +28.5% a year, volatility 30.3%DAC: +20.6% a year, volatility 32.0%EWT: +20.4% a year, volatility 24.2%ALSN: +27.3% a year, volatility 29.9%NEU: +21.0% a year, volatility 26.8%AVT: +22.1% a year, volatility 30.7%ACT: +20.5% a year, volatility 24.3%FSS: +23.3% a year, volatility 31.7%ESE: +24.2% a year, volatility 31.1%NHC: +32.0% a year, volatility 28.5%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%ESQ: +31.7% a year, volatility 31.7%FCFS: +20.6% a year, volatility 30.5%IGIC: +30.8% a year, volatility 30.9%DMLP: +21.1% a year, volatility 29.1%DBJP: +20.9% a year, volatility 19.2%EPU: +29.5% a year, volatility 24.9%HSBC: +33.1% a year, volatility 25.9%GE: +36.0% a year, volatility 31.0%ARGT: +22.3% a year, volatility 32.1%FBIZ: +23.1% a year, volatility 29.4%MPLX: +23.5% a year, volatility 18.8%WELL: +26.0% a year, volatility 23.8%ETN: +20.4% a year, volatility 32.1%ING: +24.7% a year, volatility 31.1%LYG: +20.3% a year, volatility 32.1%WAB: +25.6% a year, volatility 26.2%XLE: +22.6% a year, volatility 25.5%SHG: +21.0% a year, volatility 31.1%USFD: +22.7% a year, volatility 29.8%UNM: +30.6% a year, volatility 29.3%WF: +26.3% a year, volatility 31.6%MOG-A: +36.6% a year, volatility 32.0%CLH: +23.1% a year, volatility 28.6%SNX: +20.3% a year, volatility 30.4%RGLD: +20.6% a year, volatility 32.4%TRGP: +41.8% a year, volatility 31.7%WMB: +24.6% a year, volatility 24.0%IMO: +34.3% a year, volatility 32.0%CNQ: +26.5% a year, volatility 32.5%R: +25.1% a year, volatility 32.6%SHEL: +21.0% a year, volatility 24.8%PAA: +27.0% a year, volatility 25.6%IFS: +20.8% a year, volatility 31.1%GVA: +23.8% a year, volatility 30.6%WES: +23.5% a year, volatility 27.6%ARLP: +29.4% a year, volatility 31.6%PAGP: +26.8% a year, volatility 26.1%BLX: +31.4% a year, volatility 25.9%SXI: +20.6% a year, volatility 32.6%IYE: +21.1% a year, volatility 25.2%SBR: +21.4% a year, volatility 31.6%ATMP: +21.2% a year, volatility 21.5%EQNR: +19.2% a year, volatility 34.4%SPY (S&P 500): +12.7% a year, volatility 17.1%SU: +33.1% a year, volatility 32.5%XOM: +27.1% a year, volatility 26.5%E: +23.0% a year, volatility 25.6%LNG: +23.4% a year, volatility 30.2%PBR: +50.3% a year, volatility 37.5%CVX: +19.5% a year, volatility 25.2%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%INSW: +56.5% a year, volatility 40.5%DTM: +24.5% a year, volatility 25.2%FRO: +52.6% a year, volatility 49.7%KMI: +18.7% a year, volatility 22.5%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%MCK: +38.7% a year, volatility 25.0%PGR: +21.3% a year, volatility 25.6%LLY: +40.7% a year, volatility 32.8%SDCI: +20.6% a year, volatility 18.4%WRB: +18.9% a year, volatility 22.9%ASX: +48.8% a year, volatility 43.0%CAH: +42.1% a year, volatility 24.7%HWM: +47.3% a year, volatility 32.5%EQNRSPY (S&P 500)SUXOMELNGPBRCVXMPCINSWDTMFROKMIDXJMCKPGRLLYSDCIASXCAHHWM
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than EQNR?

Investments that beat EQNR over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat EQNR over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks EQNR's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than EQNR follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than EQNR's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× EQNR's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than EQNR's.

Screen the whole market against EQNR for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with EQNR?lower diversifies moreExpenseper year
EQNREquinor ASA · this page
+19.2%34.4%0.69−66.8%+416%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.060.09%
Popular alternativesbest 6 shownThe investments people most often weigh against EQNR. 7 of 16 passed at least one test.
SUSuncor Energy Inc. · Integrated Oil & Gas
Higher return, lower volatilityHigher return in most periods+33.1%32.5%1.05−73.5%+295%0.57—
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst decline+27.1%26.5%1.04−61.0%+214%0.57—
EEni S.p.A. · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst decline+23.0%25.6%0.94−61.4%+278%0.66—
LNGCheniere Energy, Inc. · Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst decline+23.4%30.2%0.85−57.5%+616%0.56—
PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Higher return, similar volatilityHigher return in most periods+50.3%37.5%1.28−75.3%+674%0.61—
CVXChevron Corporation · Integrated Oil & Gas
Similar return, lower volatilityHigher Sharpe, smaller worst decline+19.5%25.2%0.84−55.8%+238%0.66—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Integrated Oil & Gas and Oil & Gas and the categories next to it (Exploration & Production, Oil & Gas Midstream, Oilfield Services), plus EQNR's specific themes. 23 of 70 passed at least one test.
MPCMarathon Petroleum Corporation · Oil & Gas
On the frontierHigher return, similar volatilityHigher return in most periods+51.2%33.4%1.41−79.7%+1,387%0.57—
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
On the frontierHigher return, similar volatilityHigher return in most periods+51.8%37.5%1.31−71.7%+768%0.60—
INSWInternational Seaways, Inc. · Oil & Gas
On the frontierHigher Sharpe, smaller worst declineHigher return in most periods+56.5%40.5%1.31−57.4%—0.28—
DTMDT Midstream, Inc. · Oil & Gas Midstream
Higher return, lower volatilityHigher Sharpe, smaller worst decline+24.5%25.2%1.00−23.6%—0.20—
FROFrontline Plc · Oil & Gas
Higher Sharpe, smaller worst declineHigher return in most periods+52.6%49.7%1.10−52.0%+1,194%0.25—
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Similar return, lower volatilityHigher Sharpe, smaller worst decline+18.7%22.5%0.88−55.1%+163%0.40—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 236 of 3,547 passed at least one test.
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+26.1%23.4%1.11−45.1%+603%-0.04—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+26.6%19.1%1.34−39.1%+428%0.030.48%
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+38.7%25.0%1.44−38.1%+586%0.20—
PGRThe Progressive Corporation · Property & Casualty Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+21.3%25.6%0.89−30.3%+816%0.00—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, similar volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%-0.23—
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst decline+20.6%18.4%1.12−45.7%—0.630.80%
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Similar return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+18.9%22.9%0.87−45.3%+443%0.13—
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher Sharpe, smaller worst declineHigher return in most periods+48.8%43.0%1.15−52.5%+967%-0.09—
What these numbers mean for EQNR
Annual return
EQNR returned 19.2% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $24,100. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
EQNR's volatility over the past 5 years was 34.4%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, EQNR's return lands within 34.4% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
EQNR's Sharpe ratio over the past 5 years was 0.69, against 0.79 for the S&P 500, so EQNR earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
EQNR's worst fall from a peak to a low over the past 10 years was 66.8%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 66.8% fall takes a 201% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, EQNR's monthly returns had a correlation of 0.06 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are close to unrelated, or move in opposite directions, so it can steady a stock portfolio. In the table, the correlation column measures each option against EQNR instead: the lower it is, the more that option would diversify a EQNR holding. Guide: Correlation and diversification →
Show all 104 stocks and funds worth at least $500 million that earned more than EQNR with less volatility

Out of 3,633 tested over 5 years. The strongest 98 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with EQNRExpense
1
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%-0.04—
2
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.030.48%
3
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.20—
4
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.00—
5
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.13—
6
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.08—
7
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.02—
8
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+21.5%25.1%0.91−43.2%+463%0.24—
9
IRMIron Mountain Incorporated · Specialty REITs
Whole market+24.6%30.3%0.88−39.0%+470%0.09—
10
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+29.9%29.3%1.04−36.1%+537%0.27—
11
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.16—
12
MUSAMurphy USA Inc. · Convenience Stores
Whole market+26.1%31.2%0.90−35.5%+706%0.30—
13
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.04—
14
CATCaterpillar Inc. · Industrial Machinery
Whole market+31.1%31.9%1.01−43.4%+936%0.05—
15
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%0.12—
16
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.02—
17
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%-0.16—
18
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.12—
19
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%0.03—
20
UBSUBS Group AG · Banks
Whole market+25.4%30.4%0.90−59.8%+374%0.12—
21
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%0.05—
22
PHParker-Hannifin Corporation · Industrial Machinery
Whole market+27.4%28.8%0.99−54.7%+789%-0.04—
23
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Whole market+22.6%29.1%0.85−41.6%+521%-0.09—
24
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.12—
25
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.17—
26
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%-0.05—
27
MARMarriott International, Inc. · Hotels & Resorts
Whole market+22.0%28.6%0.84−61.3%+544%0.05—
28
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.15—
29
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.04—
30
BAPCredicorp Ltd. · Banks
Whole market+30.8%30.3%1.04−59.2%+298%0.17—
31
SUSuncor Energy Inc. · Integrated Oil & Gas
Popular alternative+33.1%32.5%1.05−73.5%+295%0.57—
32
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.630.80%
33
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%-0.09—
34
CWCurtiss-Wright Corporation · Aerospace & Defense
Whole market+30.8%28.7%1.08−48.7%+512%0.19—
35
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%-0.12—
36
BCHBanco de Chile · Banks
Whole market+25.2%28.2%0.94−58.4%+180%0.06—
37
HUBBHubbell Incorporated · Electrical Equipment
Whole market+21.0%30.0%0.79−41.6%+442%-0.08—
38
WWDWoodward, Inc. · Aerospace & Defense
Whole market+23.8%32.3%0.82−60.6%+488%0.07—
39
APGAPi Group Corporation · Engineering & Construction
Whole market+23.0%31.9%0.81−49.6%—0.05—
40
AITApplied Industrial Technologies, Inc. · Industrial Distribution
Whole market+28.5%30.3%0.98−59.3%+742%-0.03—
41
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Popular alternative+27.1%26.5%1.04−61.0%+214%0.57—
42
DACDanaos Corporation · Marine Shipping
Whole market+20.6%32.0%0.75−94.6%+449%0.38—
43
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%-0.090.59%
44
ALSNAllison Transmission Holdings, Inc. · Auto Parts
Whole market+27.3%29.9%0.96−48.7%+367%0.14—
45
NEUNewMarket Corporation · Specialty Chemicals
Whole market+21.0%26.8%0.85−40.7%+165%-0.11—
46
HWMHowmet Aerospace Inc. · Aerospace & Defense
Whole market+47.3%32.5%1.36−68.9%+1,028%0.11—
47
AVTAvnet, Inc. · Technology Distribution
Whole market+22.1%30.7%0.81−58.4%+173%0.17—
48
ACTEnact Holdings Inc. · Insurance
Whole market+20.5%24.3%0.89−20.2%—0.18—
49
FSSFederal Signal Corporation · Industrial Machinery
Whole market+23.3%31.7%0.82−33.0%+882%-0.04—
50
ESEESCO Technologies Inc. · Electronic Instruments
Whole market+24.2%31.1%0.85−46.0%+473%0.10—
51
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.02—
52
EEni S.p.A. · Integrated Oil & Gas
Popular alternative+23.0%25.6%0.94−61.4%+278%0.66—
53
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—-0.100.19%
54
QTUMDefiance Quantum ETF · Technology
Whole market+22.8%28.1%0.87−38.5%—-0.150.40%
55
DTMDT Midstream, Inc. · Oil & Gas Midstream
Same or nearby category+24.5%25.2%1.00−23.6%—0.20—
56
LNGCheniere Energy, Inc. · Oil & Gas
Popular alternative+23.4%30.2%0.85−57.5%+616%0.56—
57
ESQEsquire Financial Holdings, Inc. · Banks - Regional
Whole market+31.7%31.7%1.03−56.5%—0.01—
58
FCFSFirstCash Holdings, Inc · Consumer Finance
Whole market+20.6%30.5%0.77−50.2%+422%0.05—
59
IGICInternational General Insurance Holdings Ltd. · Insurance - Diversified
Whole market+30.8%30.9%1.03−50.6%—0.00—
60
DMLPDorchester Minerals, L.P. · Oil & Gas Exploration & Production
Whole market+21.1%29.1%0.81−56.8%+435%0.50—
61
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%-0.080.45%
62
EPUiShares MSCI Peru and Global Exposure ETF · International
Whole market+29.5%24.9%1.17−51.0%+275%0.120.59%
63
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.13—
64
GEGE Aerospace · Aerospace & Defense
Whole market+36.0%31.0%1.15−80.9%+139%-0.09—
65
ARGTGlobal X - MSCI Argentina ETF · International
Whole market+22.3%32.1%0.79−61.7%+301%0.140.59%
66
FBIZFirst Business Financial Services, Inc. · Banks - Regional
Whole market+23.1%29.4%0.85−50.2%+307%0.14—
67
MPLXMPLX Lp · Oil & Gas Midstream
Same or nearby category+23.5%18.8%1.22−75.2%+350%0.25—
68
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.12—
69
ETNEaton Corporation plc · Electrical Equipment
Whole market+20.4%32.1%0.74−44.5%+657%0.02—
70
INGING Groep N.V. · Banks
Whole market+24.7%31.1%0.87−74.4%+339%0.08—
71
LYGLloyds Banking Group plc · Banks
Whole market+20.3%32.1%0.74−66.5%+213%0.01—
72
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.26—
73
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.640.08%
74
SHGShinhan Financial Group Co., Ltd. · Banks
Whole market+21.0%31.1%0.77−64.1%+175%0.13—
75
USFDUS Foods Holding Corp. · Food Distribution
Whole market+22.7%29.8%0.84−77.3%+347%0.08—
76
UNMUnum Group · Life Insurance
Whole market+30.6%29.3%1.06−81.0%+256%0.12—
77
WFWoori Financial Group Inc. · Banks
Whole market+26.3%31.6%0.90−67.2%+282%0.21—
78
MOG-AMoog Inc. · Aerospace & Defense
Whole market+36.6%32.0%1.14−63.7%+595%-0.03—
79
CLHClean Harbors, Inc. · Environmental Services
Whole market+23.1%28.6%0.88−64.5%+588%0.20—
80
SNXTD Synnex Corp · Technology Distribution
Whole market+20.3%30.4%0.76−55.8%+430%0.08—
81
RGLDRoyal Gold, Inc. · Gold Mining
Whole market+20.6%32.4%0.74−49.5%+282%0.07—
82
TRGPTarga Resources Corp. · Oil & Gas Midstream
Same or nearby category+41.8%31.7%1.27−90.8%+829%0.39—
83
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Same or nearby category+24.6%24.0%1.04−68.1%+288%0.35—
84
IMOImperial Oil Limited · Integrated Oil & Gas
Same or nearby category+34.3%32.0%1.09−77.1%+430%0.55—
85
CNQCanadian Natural Resources Limited · Oil & Gas
Same or nearby category+26.5%32.5%0.89−77.5%+433%0.61—
86
RRyder System, Inc. · Freight & Logistics
Whole market+25.1%32.6%0.85−72.3%+407%0.10—
87
SHELShell plc · Integrated Oil & Gas
Popular alternative+21.0%24.8%0.90−67.2%+233%0.70—
88
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Same or nearby category+27.0%25.6%1.06−87.9%+64.0%0.46—
89
IFSIntercorp Financial Services Inc. · Regional Banks
Whole market+20.8%31.1%0.77−56.9%—0.13—
90
GVAGranite Construction Incorporated · Engineering & Construction
Whole market+23.8%30.6%0.85−84.7%+186%-0.11—
91
WESWestern Midstream Partners, LP · Oil & Gas Midstream
Same or nearby category+23.5%27.6%0.91−91.9%+128%0.33—
92
ARLPAlliance Resource Partners, L.P. · Coal
Whole market+29.4%31.6%0.98−85.3%+173%0.42—
93
PAGPPlains GP Holdings LP · Oil & Gas Midstream
Same or nearby category+26.8%26.1%1.05−88.0%+56.3%0.46—
94
BLXBladex, Inc. · Banks - Regional
Whole market+31.4%25.9%1.19−68.5%+290%-0.01—
95
SXIStandex International Corporation · Industrial - Machinery
Whole market+20.6%32.6%0.74−65.6%+226%-0.14—
96
IYEiShares U.S. Energy ETF · Broad Market
Whole market+21.1%25.2%0.89−68.6%+159%0.650.37%
97
SBRSabine Royalty Trust · Oil & Gas Midstream
Whole market+21.4%31.6%0.78−50.7%+340%0.29—
98
ATMPBarclays ETN+ Select MLP ETN · Broad Market
Whole market+21.2%21.5%1.01−70.3%+172%0.450.95%

EQNR against its popular alternatives

The investments people most often weigh against EQNR, compared period by period and year by year.

How do EQNR's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at EQNR, which divides the map into what did better or worse on each measure.

Green points earned more than EQNR with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%55.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityEQNR: 19.2% a year, volatility 34.4%SPY (S&P 500): 12.7% a year, volatility 17.1%SU: 33.1% a year, volatility 32.5%E: 23.0% a year, volatility 25.6%SHEL: 21.0% a year, volatility 24.8%XOM: 27.1% a year, volatility 26.5%LNG: 23.4% a year, volatility 30.2%EC: 18.0% a year, volatility 37.9%CVX: 19.5% a year, volatility 25.2%SLB: 10.0% a year, volatility 37.5%PBR: 50.3% a year, volatility 37.5%CVE: 26.6% a year, volatility 39.4%YPF: 60.7% a year, volatility 54.1%ENB: 9.1% a year, volatility 18.9%COP: 18.2% a year, volatility 32.6%BP: 16.0% a year, volatility 28.7%EOG: 16.6% a year, volatility 32.3%TTE: 18.0% a year, volatility 25.8%EQNRSPY (S&P 500)SUESHELXOMLNGECCVXSLBPBRCVEYPFENBCOPBPEOGTTE10.0%20.0%30.0%40.0%50.0%60.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityEQNR: 19.2% a year, volatility 34.4%SPY (S&P 500): 12.7% a year, volatility 17.1%SU: 33.1% a year, volatility 32.5%E: 23.0% a year, volatility 25.6%SHEL: 21.0% a year, volatility 24.8%XOM: 27.1% a year, volatility 26.5%LNG: 23.4% a year, volatility 30.2%EC: 18.0% a year, volatility 37.9%CVX: 19.5% a year, volatility 25.2%SLB: 10.0% a year, volatility 37.5%PBR: 50.3% a year, volatility 37.5%CVE: 26.6% a year, volatility 39.4%YPF: 60.7% a year, volatility 54.1%ENB: 9.1% a year, volatility 18.9%COP: 18.2% a year, volatility 32.6%BP: 16.0% a year, volatility 28.7%EOG: 16.6% a year, volatility 32.3%TTE: 18.0% a year, volatility 25.8%EQNRSPY (S&P 500)SUESHELXOMLNGCVXSLBPBRCVEYPFENBBP
All figures
InvestmentAnnual returnVolatility
YPF YPF Sociedad Anónima+60.7%54.1%
PBR Petróleo Brasileiro S.A. - Petrobras+50.3%37.5%
SU Suncor Energy Inc.+33.1%32.5%
XOM Exxonmobil Holdings Corporation+27.1%26.5%
CVE Cenovus Energy Inc.+26.6%39.4%
LNG Cheniere Energy, Inc.+23.4%30.2%
E Eni S.p.A.+23.0%25.6%
SHEL Shell plc+21.0%24.8%
CVX Chevron Corporation+19.5%25.2%
EQNR This pageEquinor ASA+19.2%34.4%
COP ConocoPhillips+18.2%32.6%
TTE TotalEnergies SE+18.0%25.8%
EC Ecopetrol S.A.+18.0%37.9%
EOG EOG Resources, Inc.+16.6%32.3%
BP BP p.l.c.+16.0%28.7%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
SLB Slb N.V.+10.0%37.5%
ENB Enbridge Inc.+9.1%18.9%
Open these 18 in EasyCompare

Has EQNR consistently beaten its popular alternatives?

This section compares EQNR with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than EQNR helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than EQNR over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
EQNR Equinor ASA (this page)—+7.7%+23.4%+29.6%+92.7%+107%+73.2%+141%+416%34.4%0.69−66.8%—$109B—
PBR QualifiedPetróleo Brasileiro S.A. - Petrobras5/5 short3/3 longAll-weather+24.6%+45.4%+31.0%+128%+140%+132%+667%+674%37.5%1.28−75.3%—$166B—
SU QualifiedSuncor Energy Inc.3/5 short2/3 long+16.7%+26.8%+28.9%+75.6%+111%+161%+318%+295%32.5%1.05−73.5%—$93B—
E Oil & Gas IntegratedEni S.p.A.1/5 short2/3 long+10.2%+20.3%+14.6%+56.0%+77.9%+120%+181%+278%25.6%0.94−61.4%—$86B—
SHEL Oil & Gas IntegratedShell plc1/5 short2/3 long+13.2%+23.5%+22.1%+43.7%+50.3%+77.1%+159%+233%24.8%0.90−67.2%—$301B—
XOM Oil & Gas IntegratedExxonmobil Holdings Corporation1/5 short2/3 long+12.4%+20.7%+22.0%+47.9%+62.4%+76.7%+232%+214%26.5%1.04−61.0%—$731B—
CVE Oil & Gas IntegratedCenovus Energy Inc.1/5 short2/3 long+5.1%+18.0%+34.6%+92.4%+101%+76.2%+225%+163%39.4%0.80−89.2%—$61B—
LNG Oil & Gas MidstreamCheniere Energy, Inc.0/5 short2/3 long+3.0%+7.2%+12.8%+44.3%+29.3%+69.8%+186%+616%30.2%0.85−57.5%—$59B—
YPF Oil & Gas IntegratedYPF Sociedad Anónima0/5 short2/3 long−4.5%+0.7%+23.9%+39.9%+102%+313%+971%+173%54.1%1.14−90.1%—$20B—
EC Oil & Gas IntegratedEcopetrol S.A.2/5 short1/3 long+5.0%+10.3%+35.7%+81.5%+112%+116%+129%+401%37.9%0.63−73.3%—$36B—
ENB Oil & Gas MidstreamEnbridge Inc.0/5 short1/3 long−0.6%−12.9%−4.6%+5.0%+8.5%+84.0%+54.3%+103%18.9%0.56−44.1%—$107B—
COP Oil & Gas Exploration & ProductionConocoPhillips2/5 short0/3 long+14.4%+27.0%+27.1%+54.3%+72.9%+28.5%+131%+379%32.6%0.68−70.7%—$175B—
CVX Oil & Gas IntegratedChevron Corporation1/5 short0/3 long+10.8%+20.0%+25.4%+48.8%+51.9%+53.4%+144%+238%25.2%0.84−55.8%—$446B—
BP Oil & Gas IntegratedBP p.l.c.1/5 short0/3 long+14.4%+19.0%+12.1%+43.0%+56.3%+46.5%+110%+141%28.7%0.66−63.9%—$130B—
EOG Oil & Gas Exploration & ProductionEOG Resources, Inc.1/5 short0/3 long+12.4%+12.7%+24.0%+51.9%+53.1%+31.9%+115%+131%32.3%0.64−77.1%—$83B—
TTE Oil & Gas IntegratedTotalEnergies SE0/5 short0/3 long+1.2%+12.8%+5.7%+40.3%+55.2%+60.5%+129%+234%25.8%0.78−59.6%—$201B—
SLB Oil & Gas Equipment & ServicesSlb N.V.0/5 short0/3 long−3.4%+8.3%−3.3%+26.4%+53.2%−7.2%+60.7%−21.3%37.5%0.44−84.5%—$74B—
Open these 17 in EasyCompare

How did EQNR do year by year?

This table shows each investment's total return in every full calendar year since 2002, along with where EQNR ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with EQNR and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of EQNR; gray means the two finished within a fraction of a point. The rank row places EQNR among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of EQNR202520242023202220212020201920182017201620152014201320122011201020092008200720062005200420032002
EQNR This pageEquinor ASA—+7.7%−16.0%−0.8%+42.9%+64.6%−13.6%−1.0%+3.4%+23.4%+38.3%−16.6%−22.5%+1.4%+2.1%+12.7%−0.1%+57.8%−43.2%+22.8%+22.0%+51.4%+45.6%+43.8%+31.8%
Rank among alternativesTop quarter in 9 of 2411 of 1715 of 1712 of 1710 of 175 of 173 of 1715 of 175 of 175 of 173 of 178 of 1713 of 1714 of 1713 of 176 of 1712 of 173 of 1611 of 159 of 157 of 154 of 153 of 156 of 152 of 15
SPY S&P 500State Street SPDR S&P 500 ETF11 of 24+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%
PBR Petróleo Brasileiro S.A. - Petrobras11 of 24+2.3%−2.9%+89.6%+55.4%+19.3%−29.0%+24.2%+27.7%+1.8%+135%−41.1%−45.1%−28.3%−20.0%−32.1%−18.1%+101%−55.6%+132%+51.1%+85.0%+43.9%+111%−32.0%
SU Suncor Energy Inc.13 of 24+29.7%+16.2%+6.0%+32.3%+55.0%−46.6%+22.1%−21.3%+15.8%+31.2%−16.3%−7.0%+8.6%+16.2%−23.8%+9.9%+82.6%−64.0%+38.4%+25.4%+79.0%+42.3%+61.2%−3.9%
E Eni S.p.A.9 of 24+49.0%−13.6%+27.5%+11.0%+44.9%−28.1%+4.8%+0.6%+9.2%+15.9%−8.8%−23.6%+4.8%+26.6%+1.0%−7.2%+13.4%−29.9%+12.9%+20.6%+10.8%+39.6%+28.8%+32.9%
SHEL Shell plc11 of 24+22.2%−0.9%+20.2%+36.0%+28.4%−37.4%+7.7%−7.5%+31.0%+28.2%−27.1%−1.3%+9.0%−0.9%+14.8%+17.6%+20.9%−34.2%+23.5%+19.3%+12.8%+14.4%+24.5%−7.3%
XOM Exxonmobil Holdings Corporation13 of 24+16.0%+11.3%−6.3%+87.4%+57.6%−36.2%+7.2%−15.1%−3.8%+19.9%−12.8%−6.0%+20.1%+4.7%+18.7%+10.1%−12.6%−13.1%+24.3%+39.1%+11.8%+28.1%+20.7%−8.9%
CVE Cenovus Energy Inc.7 of 16+15.8%−5.9%−12.3%+61.1%+105%−39.6%+47.2%−21.6%−38.6%+21.1%−36.1%−25.3%−11.9%+3.6%+2.3%+35.6%————————
LNG Cheniere Energy, Inc.15 of 24−8.7%+27.2%+15.0%+49.3%+69.5%−1.7%+3.2%+9.9%+29.9%+11.2%−47.1%+63.3%+130%+116%+57.5%+128%−15.1%−91.3%+13.0%−22.4%+16.9%+444%+815%+28.0%
YPF YPF Sociedad Anónima9 of 24−14.9%+147%+87.1%+141%−18.7%−59.4%−12.9%−41.2%+39.5%+5.8%−40.3%−19.3%+128%−57.4%−24.8%+23.2%+5.2%+26.5%−5.7%−4.0%+27.4%+32.8%+246%−31.6%
EC Ecopetrol S.A.7 of 17+48.5%−24.6%+40.1%−5.0%+0.8%−29.3%+38.7%+13.5%+64.4%+28.9%−55.7%−52.3%−31.5%+41.5%+6.1%+85.1%+41.2%———————
ENB Enbridge Inc.10 of 24+19.5%+26.3%−1.1%+6.5%+30.9%−13.6%+36.0%−15.5%−3.7%+32.4%−33.3%+21.0%+3.7%+19.2%+37.0%+26.2%+47.3%−17.0%+21.4%+13.5%+29.5%+24.8%+57.5%+3.1%
COP ConocoPhillips13 of 24−2.3%−12.2%+2.0%+72.2%+87.1%−36.0%+6.6%+15.6%+11.9%+10.1%−29.0%+1.5%+27.1%+8.0%+11.0%+38.6%+2.8%−39.9%+25.4%+26.5%+36.9%+35.6%+39.8%−17.5%
CVX Chevron Corporation12 of 24+10.1%+1.3%−13.6%+58.5%+46.2%−25.9%+15.3%−9.7%+10.6%+36.7%−16.2%−7.0%+19.3%+5.1%+20.3%+22.9%+8.1%−18.3%+30.5%+33.7%+11.5%+25.6%+35.4%−23.2%
BP BP p.l.c.8 of 24+24.5%−11.9%+6.0%+37.0%+36.4%−41.3%+5.9%−4.6%+20.0%+28.8%−12.8%−17.6%+22.8%+2.0%+0.5%−22.7%+32.9%−32.5%+13.2%+8.0%+13.6%+22.2%+26.4%−9.5%
EOG EOG Resources, Inc.11 of 24−11.4%+4.3%−2.0%+56.9%+88.6%−38.6%−2.8%−18.7%+7.5%+44.0%−22.5%+10.3%+39.7%+23.4%+8.5%−5.5%+47.4%−25.0%+43.6%−14.6%+106%+55.3%+16.1%+2.5%
TTE TotalEnergies SE9 of 24+27.6%−14.7%+14.1%+34.9%+26.0%−16.6%+10.3%−0.8%+14.3%+20.0%−7.0%−12.1%+25.0%+8.0%+1.7%−11.3%+22.6%−29.8%+18.9%+21.3%+18.8%+22.6%+33.4%+4.0%
SLB Slb N.V.8 of 24+3.3%−24.5%−0.8%+81.1%+39.6%−43.8%+17.8%−44.7%−18.5%+23.5%−16.3%−3.6%+32.1%+3.0%−17.2%+30.0%+56.2%−56.5%+57.1%+31.1%+46.6%+23.8%+32.0%−22.2%
Open these 18 in EasyCompare

Risk and diversification

How EQNR has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were EQNR's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents EQNR's five deepest drawdowns since it began trading in 2001, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means EQNR fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringEQNR fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−68.4%−45.3%May 2008Nov 20086 monthsMay 20189.5 years
Late-2018 sell-off−66.8%−15.4%Sep 2018Mar 202018 monthsSep 202118 months
2022 bear market−34.5%+2.3%Aug 2022May 20239 monthsFeb 20262.8 years
No named crash−30.9%+1.5%May 2006Oct 20065 monthsJun 20078 months
2008 financial crisis−28.4%−12.7%Oct 2007Jan 20083 monthsApr 20083 months

How did EQNR do in stock market crashes?

This section measures how far EQNR, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: EQNR began trading on June 18, 2001, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than EQNR.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
EQNR This pageEquinor ASA—−2.8%−24.5%−49.0%−29.1%−4.4%−34.9%−19.9%−1.0%−68.4%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF5 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
PBR Petróleo Brasileiro S.A. - Petrobras1 of 9−7.6%−26.6%−71.2%−26.3%−8.4%−54.9%−37.6%−1.6%−80.1%—
SU Suncor Energy Inc.1 of 9−6.4%−36.6%−65.3%−34.0%−7.0%−34.7%−42.2%−0.2%−79.9%−25.4%
E Eni S.p.A.3 of 9−2.5%−33.7%−49.7%−23.2%−6.9%−30.6%−25.1%−1.1%−61.8%−22.9%
SHEL Shell plc2 of 9−3.7%−25.0%−57.0%−19.1%−6.3%−35.9%−19.6%−2.6%−53.7%−36.2%
XOM Exxonmobil Holdings Corporation6 of 9−3.1%−20.5%−47.9%−23.6%−10.0%−15.0%−19.6%−0.3%−33.7%−33.6%
CVE Cenovus Energy Inc.0 of 8−7.1%−40.4%−82.3%−37.9%−16.4%−42.5%−26.3%−0.9%——
LNG Cheniere Energy, Inc.5 of 9−1.3%−17.8%−46.1%−21.3%−5.1%−66.5%−62.4%0.0%−97.7%−84.4%
YPF YPF Sociedad Anónima2 of 9−17.8%−45.2%−73.5%−27.3%−8.9%−48.7%−22.0%−1.6%−65.2%−75.8%
EC Ecopetrol S.A.2 of 8−8.4%−48.6%−67.3%−44.6%−12.6%−49.1%−15.5%−0.3%——
ENB Enbridge Inc.8 of 9−1.5%−23.9%−43.4%−13.8%−3.2%−34.6%−13.2%0.0%−40.9%−21.0%
COP ConocoPhillips3 of 9−6.1%−33.0%−61.8%−28.3%−9.4%−43.4%−19.0%−0.8%−62.4%−31.7%
CVX Chevron Corporation5 of 9−2.6%−24.9%−51.0%−19.6%−5.3%−18.5%−17.2%−0.1%−43.8%−29.5%
BP BP p.l.c.4 of 9−4.2%−23.9%−55.5%−20.9%−5.0%−22.9%−23.9%−2.5%−53.4%−31.1%
EOG EOG Resources, Inc.1 of 9−7.4%−33.4%−61.5%−37.3%−11.3%−31.7%−35.8%−1.5%−68.0%−52.7%
TTE TotalEnergies SE3 of 9−4.5%−24.6%−49.3%−22.2%−5.4%−21.5%−26.0%−2.1%−50.8%−25.1%
SLB Slb N.V.1 of 9−8.8%−36.8%−64.9%−43.6%−10.9%−27.1%−38.9%−3.8%−68.0%−59.8%
Open these 18 in EasyCompare

How closely does EQNR move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares EQNR with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than EQNR's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
EQNR This pageEquinor ASA79%52%1.510.62
LNG Cheniere Energy, Inc.79%30%2.650.77
PBR Petróleo Brasileiro S.A. - Petrobras104%63%1.660.99
SHEL Shell plc60%43%1.400.45
TTE TotalEnergies SE69%57%1.220.51
E Eni S.p.A.79%69%1.150.70
COP ConocoPhillips94%92%1.020.91
SU Suncor Energy Inc.90%90%1.000.96
XOM Exxonmobil Holdings Corporation78%83%0.940.76
BP BP p.l.c.58%62%0.940.51
EC Ecopetrol S.A.127%139%0.911.13
CVX Chevron Corporation86%94%0.910.89
ENB Enbridge Inc.60%74%0.820.73
CVE Cenovus Energy Inc.124%173%0.721.69
YPF YPF Sociedad Anónima144%206%0.701.58
EOG EOG Resources, Inc.92%135%0.691.17
SLB Slb N.V.104%212%0.491.54
Open these 17 in EasyCompare

What diversifies EQNR?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with EQNR's. Because such investments tend not to fall at the same time, pairing EQNR with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which EQNR lost money. The last two columns show a portfolio that is 80% EQNR and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe2024202320202019201520142010200880/20 mix volatility80/20 mix annual return
EQNR Equinor ASA (this page)1.00+141%0.69−16.0%−0.8%−13.6%−1.0%−16.6%−22.5%−0.1%−43.2%36.1%+19.4%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.27+119%1.48+15.9%+17.4%−9.0%+17.8%————29.4%+19.8%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.03+225%1.34+29.8%+42.0%+3.9%+18.9%+7.7%+8.1%−1.8%−20.8%29.1%+22.0%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.43+101%1.04+33.4%+8.0%−13.4%+23.4%−25.3%+23.8%——30.2%+19.4%
HDV Dividend & IncomeiShares Core High Dividend ETF0.37+83.3%1.00+14.1%+1.8%−6.5%+20.1%−0.3%+12.6%——30.0%+18.8%
SMH TechnologyVanEck Semiconductor ETF-0.14+323%0.97+39.1%+73.4%+55.5%+64.5%−0.3%+30.2%+19.0%−44.7%28.7%+25.3%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.03+85.0%0.96+13.4%+20.1%+2.1%+24.9%+4.1%+3.4%——29.0%+19.4%
GLD CommoditiesSPDR Gold Shares-0.03+126%0.96+26.7%+12.7%+24.8%+17.9%−10.7%−2.2%+29.3%+4.9%29.0%+20.5%
SPMO Broad MarketInvesco S&P 500 Momentum ETF-0.12+136%0.93+45.8%+17.6%+28.2%+25.9%————28.7%+21.4%

Stocks

InvestmentCorrelation5Y returnSharpe2024202320202019201520142010200880/20 mix volatility80/20 mix annual return
EQNR Equinor ASA (this page)1.00+141%0.69−16.0%−0.8%−13.6%−1.0%−16.6%−22.5%−0.1%−43.2%36.1%+19.4%
CAH Medical - DistributionCardinal Health, Inc.0.02+479%1.55+19.0%+34.1%+10.1%+18.0%+12.6%+23.0%+21.4%−39.6%29.5%+24.5%
CLS Hardware, Equipment & PartsCelestica Inc.-0.05+3,143%1.47+215%+160%−2.4%−5.7%−6.0%+12.9%+2.8%−20.5%30.6%+38.4%
FIX Engineering & ConstructionComfort Systems USA, Inc.-0.07+1,636%1.46+107%+79.6%+6.7%+15.1%+67.7%−10.4%+8.7%−15.2%29.6%+34.2%
MCK Medical - DistributionMcKesson Corporation0.20+413%1.44+23.7%+24.1%+27.1%+26.7%−4.5%+29.3%+13.8%−40.4%30.3%+23.6%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.11+594%1.36+103%+37.8%−7.2%+83.6%−36.3%+50.9%−2.8%−67.4%30.4%+26.8%
Open these 14 in EasyCompare

Common questions

What was EQNR's worst drawdown?

EQNR's deepest decline since it began trading in 2001 was 68.4%, from May to November 2008. It took about ten years from the low to climb back to its old high.

What were EQNR's best and worst years?

Over 24 full calendar years, EQNR's best year was 2021, when it returned 64.6%. Its worst was 2008, with a return of -43.2%.

Is there a better investment than EQNR?

Among EQNR's popular alternatives, SU, XOM and E earned more than EQNR with less volatility over the past 5 years. SU returned 33.1% a year at 32.5% volatility, against 19.2% a year at 34.4%. Looking beyond its popular alternatives, DTM (oil & gas midstream) earned more than EQNR with less volatility over the past 5 years: 24.5% a year at 25.2% volatility, against 19.2% a year at 34.4%.

Is EQNR more volatile than the S&P 500?

Yes. EQNR's volatility over the past 5 years was 34.4%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, EQNR's return lands within 34.4% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is EQNR's Sharpe ratio?

EQNR's Sharpe ratio over the past 5 years was 0.69, against 0.79 for the S&P 500, so EQNR earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is EQNR with the S&P 500?

Over the past 5 years, EQNR's monthly returns had a correlation of 0.06 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are close to unrelated, or move in opposite directions, so it can steady a stock portfolio. In the table, the correlation column measures each option against EQNR instead: the lower it is, the more that option would diversify a EQNR holding.

What are the best alternatives to EQNR?

Of the 16 popular alternatives we compared, two outperformed EQNR in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: PBR and SU.

Did EQNR outperform the S&P 500?

EQNR finished ahead of the S&P 500 (SPY) in 13 of 24 full calendar years. In 2025, it returned +7.7%, against +17.7% for the index.

How did EQNR do in stock market crashes?

EQNR fell less than the S&P 500 (SPY) in three of the nine major crashes it has traded through, and further in five. The clearest case was the 2015 China and oil sell-off, when EQNR fell 34.9% and the S&P 500 fell 12.8%.

What diversifies EQNR?

These had a low correlation with EQNR over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.27), DXJ (correlation 0.03) and EMLP (correlation 0.43); among large stocks, CAH (correlation 0.02), CLS (correlation -0.05) and FIX (correlation -0.07). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to EQNR