APA vs PSX: Correlation
How closely do APA Corporation (APA) and Phillips 66 (PSX) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and PSX?
Across a 3-year window, the weekly returns of APA and PSX correlate at 0.67, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.69, with an annualized covariance of 934.7 %².
Among the 43 assets we track against APA, PSX ranks #19 by 3-year correlation. On 12-month performance APA holds a 7.9-point edge, +94.1% against +86.2%. The link looks structural: the rolling one-year correlation barely moved, holding between 0.57 and 0.74.
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 PSX: side by side
| APA (APA Corporation) | PSX (Phillips 66) | |
|---|---|---|
| 1-year return | +94.1% | +86.2% |
| 5-year return | +164.2% | +301.8% |
| Volatility (ann.) | 41.8% | 33.4% |
| Beta vs S&P 500 | 0.38 | 0.58 |
| Max drawdown (3Y) | -67.4% | -44.4% |
| Market cap | $14.8B | $96.1B |
| P/E (trailing) | 8.7 | 13.8 |
| Dividend yield | 2.43% | 2.04% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | APA | PSX |
|---|---|---|
| 2022 | +76.4% | +49.6% |
| 2023 | -21.2% | +33.1% |
| 2024 | -33.4% | -11.6% |
| 2025 | +11.5% | +17.5% |
| 2026 | +77.3% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and PSX good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APA and PSX?
The APA/PSX correlation stands at 0.67 on a 3-year window (1 year: 0.66, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is PSX a good diversifier for APA?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 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-psx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apa-vs-psx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APA correlations · PSX correlations
