CVI vs PBF: Correlation
Measured on weekly returns over the past three years, CVR Energy Inc. (CVI) and PBF Energy Inc. (PBF) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVI and PBF?
On 3 years of weekly data the CVI/PBF correlation comes out at 0.72, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 2182.6 %².
PBF is one of the assets that tracks CVI most closely: it ranks #1 out of the 12 assets we track against CVI. Correlation aside, the last 12 months split them widely, with PBF ahead by 131.7 points (+35.3% versus +167.0%).
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.
CVI vs PBF: side by side
| CVI (CVR Energy Inc.) | PBF (PBF Energy Inc.) | |
|---|---|---|
| 1-year return | +35.3% | +167.0% |
| 5-year return | +297.3% | +642.1% |
| Volatility (ann.) | 51.8% | 58.6% |
| Beta vs S&P 500 | 0.71 | 0.47 |
| Max drawdown (3Y) | -56.2% | -76.0% |
| Market cap | $4.0B | $8.1B |
| P/E (trailing) | 58.5 | 6.1 |
| Dividend yield | 1.42% | 1.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVI | PBF |
|---|---|---|
| 2022 | +115.4% | +215.8% |
| 2023 | +11.5% | +10.0% |
| 2024 | -34.9% | -38.0% |
| 2025 | +35.8% | +6.8% |
| 2026 | +57.3% | +157.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVI and PBF good diversifiers for each other?
To a limited degree. At 0.72 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 CVI and PBF?
The CVI/PBF correlation stands at 0.72 on a 3-year window (1 year: 0.69, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is PBF a good diversifier for CVI?
To a limited degree. At 0.72 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 0.72 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/cvi-vs-pbf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cvi-vs-pbf/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CVI correlations · PBF correlations
