CHRD vs PTEN: Correlation
Measured on weekly returns over the past three years, Chord Energy Corporation (CHRD) and Patterson-UTI Energy, Inc. (PTEN) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRD and PTEN?
On 3 years of weekly data the CHRD/PTEN correlation comes out at 0.77, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 1317.7 %².
Among the 38 assets we track against CHRD, PTEN ranks #15 by 3-year correlation. The last year tells two different stories: PTEN led by 84.8 percentage points, +40.6% for CHRD against +125.4% for PTEN.
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 PTEN: side by side
| CHRD (Chord Energy Corporation) | PTEN (Patterson-UTI Energy, Inc.) | |
|---|---|---|
| 1-year return | +40.6% | +125.4% |
| 5-year return | +164.0% | +84.8% |
| Volatility (ann.) | 35.4% | 48.6% |
| Beta vs S&P 500 | 0.34 | 0.60 |
| Max drawdown (3Y) | -53.9% | -64.6% |
| Market cap | $8.0B | $4.7B |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 3.71% | 3.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRD | PTEN |
|---|---|---|
| 2022 | +34.1% | +101.7% |
| 2023 | +31.7% | -34.2% |
| 2024 | -25.0% | -21.0% |
| 2025 | -16.4% | -22.1% |
| 2026 | +62.0% | +104.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRD and PTEN good diversifiers for each other?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CHRD and PTEN?
As of 2026-08-27, the correlation of weekly returns between CHRD and PTEN is 0.77 over 3 years, 0.71 over 1 year and 0.67 over 5 years.
Is PTEN a good diversifier for CHRD?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.77 mean?
On the −1 to +1 scale, 0.77 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-pten.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chrd-vs-pten/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHRD correlations · PTEN correlations
