CRC vs MTDR: Correlation
How closely do California Resources Corporation (CRC) and Matador Resources Company (MTDR) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRC and MTDR?
On 3 years of weekly data the CRC/MTDR correlation comes out at 0.69, strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 958.2 %².
Few assets follow CRC as closely as MTDR, which ranks #1 of 13 tracked partners. Over the last 12 months MTDR came out ahead by 8.9 percentage points (+8.5% against +17.4%).
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.
CRC vs MTDR: side by side
| CRC (California Resources Corporation) | MTDR (Matador Resources Company) | |
|---|---|---|
| 1-year return | +8.5% | +17.4% |
| 5-year return | +78.6% | +115.7% |
| Volatility (ann.) | 34.5% | 40.3% |
| Beta vs S&P 500 | 0.59 | 0.49 |
| Max drawdown (3Y) | -44.8% | -46.8% |
| Market cap | $4.7B | $7.0B |
| P/E (trailing) | – | 9.7 |
| Dividend yield | 3.05% | 2.60% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRC | MTDR |
|---|---|---|
| 2022 | +3.7% | +55.8% |
| 2023 | +28.9% | +0.6% |
| 2024 | -2.6% | +0.4% |
| 2025 | -10.8% | -22.3% |
| 2026 | +20.0% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRC and MTDR good diversifiers for each other?
To a limited degree. At 0.69 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 CRC and MTDR?
The CRC/MTDR correlation stands at 0.69 on a 3-year window (1 year: 0.68, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is MTDR a good diversifier for CRC?
To a limited degree. At 0.69 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 0.69 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/crc-vs-mtdr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crc-vs-mtdr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRC correlations · MTDR correlations
