APA vs TBN: Correlation
Measured on weekly returns over the past three years, APA Corporation (APA) and Tamboran Resources Corporation (TBN) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and TBN?
Across a 3-year window, the weekly returns of APA and TBN correlate at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 903.0 %².
By 3-year correlation, TBN places #31 of the 43 assets tracked against APA. On 12-month performance APA holds a 7.4-point edge, +94.1% against +86.7%.
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 TBN: side by side
| APA (APA Corporation) | TBN (Tamboran Resources Corporation) | |
|---|---|---|
| 1-year return | +94.1% | +86.7% |
| 5-year return | +164.2% | n/a |
| Volatility (ann.) | 41.8% | 52.6% |
| Beta vs S&P 500 | 0.38 | -0.08 |
| Max drawdown (3Y) | -67.4% | -38.6% |
| Market cap | $14.8B | $1.3B |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 2.43% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | APA | TBN |
|---|---|---|
| 2022 | +76.4% | – |
| 2023 | -21.2% | – |
| 2024 | -33.4% | – |
| 2025 | +11.5% | +29.7% |
| 2026 | +77.3% | +38.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and TBN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between APA and TBN?
As of 2026-08-27, the correlation of weekly returns between APA and TBN is 0.38 over 3 years, 0.47 over 1 year and n/a over 5 years.
Is TBN a good diversifier for APA?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: APA correlations · TBN correlations
