COP vs PR: Correlation
ConocoPhillips (COP) and Permian Resources Corporation (PR) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COP and PR?
Across a 3-year window, the weekly returns of COP and PR correlate at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Stretching to 5 years gives 0.79, with an annualized covariance of 827.1 %².
Among the 40 assets we track against COP, PR ranks #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PR outperformed by 33.8 percentage points (+36.5% for COP against +70.3% for PR).
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.
COP vs PR: side by side
| COP (ConocoPhillips) | PR (Permian Resources Corporation) | |
|---|---|---|
| 1-year return | +36.5% | +70.3% |
| 5-year return | +175.2% | +430.6% |
| Volatility (ann.) | 29.1% | 35.4% |
| Beta vs S&P 500 | 0.25 | 0.39 |
| Max drawdown (3Y) | -36.3% | -39.9% |
| Market cap | $155.6B | $19.4B |
| P/E (trailing) | 17.3 | 14.7 |
| Dividend yield | 2.53% | 2.73% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | COP | PR |
|---|---|---|
| 2022 | +71.7% | +57.9% |
| 2023 | +2.0% | +49.4% |
| 2024 | -12.2% | +10.7% |
| 2025 | -2.3% | +1.9% |
| 2026 | +41.4% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COP and PR good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between COP and PR?
The COP/PR correlation stands at 0.80 on a 3-year window (1 year: 0.81, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is PR a good diversifier for COP?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 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/cop-vs-pr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cop-vs-pr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COP correlations · PR correlations
