APA vs DTI: Correlation
Measured on weekly returns over the past three years, APA Corporation (APA) and Drilling Tools International Corporation (DTI) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and DTI?
On 3 years of weekly data the APA/DTI correlation comes out at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. The 5-year figure is 0.30, and annualized covariance runs at 1172.6 %².
By 3-year correlation, DTI places #29 of the 43 assets tracked against APA. Their recent paths diverged sharply: over the last 12 months APA outperformed by 63.6 percentage points (+94.1% for APA against +30.5% for DTI). Risk is not evenly split, since DTI carries 1.6 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.
APA vs DTI: side by side
| APA (APA Corporation) | DTI (Drilling Tools International Corporation) | |
|---|---|---|
| 1-year return | +94.1% | +30.5% |
| 5-year return | +164.2% | -74.8% |
| Volatility (ann.) | 41.8% | 65.4% |
| Beta vs S&P 500 | 0.38 | 0.96 |
| Max drawdown (3Y) | -67.4% | -75.0% |
| Market cap | $14.8B | $0.1B |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 2.43% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | APA | DTI |
|---|---|---|
| 2022 | +76.4% | +4.0% |
| 2023 | -21.2% | -68.7% |
| 2024 | -33.4% | +2.2% |
| 2025 | +11.5% | -25.1% |
| 2026 | +77.3% | +1.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and DTI good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between APA and DTI?
As of 2026-08-27, the correlation of weekly returns between APA and DTI is 0.43 over 3 years, 0.40 over 1 year and 0.30 over 5 years.
Is DTI a good diversifier for APA?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apa-vs-dti.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apa-vs-dti/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APA correlations · DTI correlations
