CRML vs PBA: Correlation
How closely do Critical Metals Corp. (CRML) and Pembina Pipeline Corp. (PBA) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRML and PBA?
Over the past 3 years, CRML and PBA moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.23). Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -672.1 %².
Among the 11 assets we track against CRML, PBA sits near the bottom by co-movement, at rank #9. On 12-month performance PBA holds a 7.9-point edge, +23.5% against +31.4%. Note the risk asymmetry: CRML runs 7.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CRML vs PBA: side by side
| CRML (Critical Metals Corp.) | PBA (Pembina Pipeline Corp.) | |
|---|---|---|
| 1-year return | +23.5% | +31.4% |
| 5-year return | -19.1% | +98.2% |
| Volatility (ann.) | 144.4% | 20.0% |
| Beta vs S&P 500 | 2.11 | 0.08 |
| Max drawdown (3Y) | -93.9% | -17.9% |
| Market cap | $1.2B | $28.1B |
| P/E (trailing) | – | 23.7 |
| Dividend yield | 0.00% | 5.93% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRML | PBA |
|---|---|---|
| 2022 | – | +18.3% |
| 2023 | +7.7% | +7.8% |
| 2024 | -38.3% | +13.2% |
| 2025 | +2.2% | +5.7% |
| 2026 | +15.9% | +30.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRML and PBA good diversifiers for each other?
Yes. With a correlation of -0.23, CRML and PBA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRML and PBA?
As of 2026-08-27, the correlation of weekly returns between CRML and PBA is -0.23 over 3 years, -0.39 over 1 year and -0.16 over 5 years.
Is PBA a good diversifier for CRML?
Yes. With a correlation of -0.23, CRML and PBA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crml-vs-pba.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crml-vs-pba/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRML correlations · PBA correlations
