CHRD vs PDS: Correlation
Measured on weekly returns over the past three years, Chord Energy Corporation (CHRD) and Precision Drilling Corporation (PDS) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and PDS?
On 3 years of weekly data the CHRD/PDS correlation comes out at 0.71, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.71 over 3. The 5-year figure is 0.62, and annualized covariance runs at 948.6 %².
Among the 38 assets we track against CHRD, PDS ranks #21 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PDS outperformed by 17.7 percentage points (+40.6% for CHRD against +58.3% for PDS).
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.
CHRD vs PDS: side by side
| CHRD (Chord Energy Corporation) | PDS (Precision Drilling Corporation) | |
|---|---|---|
| 1-year return | +40.6% | +58.3% |
| 5-year return | +164.0% | +182.9% |
| Volatility (ann.) | 35.4% | 37.7% |
| Beta vs S&P 500 | 0.34 | 0.49 |
| Max drawdown (3Y) | -53.9% | -50.5% |
| Market cap | $8.0B | $1.2B |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | PDS |
|---|---|---|
| 2022 | +34.1% | +116.5% |
| 2023 | +31.7% | -29.2% |
| 2024 | -25.0% | +12.5% |
| 2025 | -16.4% | +17.7% |
| 2026 | +62.0% | +25.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and PDS good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CHRD and PDS?
As of 2026-08-27, the correlation of weekly returns between CHRD and PDS is 0.71 over 3 years, 0.72 over 1 year and 0.62 over 5 years.
Is PDS a good diversifier for CHRD?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/chrd-vs-pds.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/chrd-vs-pds/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHRD correlations · PDS correlations
