ALG vs TPET: Correlation
How closely do Alamo Group, Inc. (ALG) and Trio Petroleum Corp. (TPET) trade together? Their weekly returns over three years give a correlation of -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALG and TPET?
Over the past 3 years, ALG and TPET moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.62) than the 3-year average (-0.40). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -3221.2 %².
TPET is close to the least connected end of ALG's tracked universe, ranking #15 of 17. Their recent paths diverged sharply: over the last 12 months ALG outperformed by 56.9 percentage points (-24.0% for ALG against -80.9% for TPET). One caveat on sizing: TPET is 8.7 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.
ALG vs TPET: side by side
| ALG (Alamo Group, Inc.) | TPET (Trio Petroleum Corp.) | |
|---|---|---|
| 1-year return | -24.0% | -80.9% |
| 5-year return | +9.2% | n/a |
| Volatility (ann.) | 30.3% | 264.2% |
| Beta vs S&P 500 | 0.83 | -2.89 |
| Max drawdown (3Y) | -36.3% | -98.5% |
| Market cap | $2.0B | – |
| P/E (trailing) | 19.8 | – |
| Dividend yield | 0.78% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALG | TPET |
|---|---|---|
| 2022 | -3.3% | – |
| 2023 | +49.2% | – |
| 2024 | -11.1% | -80.5% |
| 2025 | -9.1% | -34.4% |
| 2026 | -1.7% | -72.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALG and TPET good diversifiers for each other?
Yes. With a correlation of -0.40, ALG and TPET have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALG and TPET?
The ALG/TPET correlation stands at -0.40 on a 3-year window (1 year: -0.62, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TPET a good diversifier for ALG?
Yes. With a correlation of -0.40, ALG and TPET have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 mean?
A reading of -0.40 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
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Related comparisons
Hubs: ALG correlations · TPET correlations
