DOW vs PTEN: Correlation
Dow Inc. (DOW) and Patterson-UTI Energy, Inc. (PTEN) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOW and PTEN?
On 3 years of weekly data the DOW/PTEN correlation comes out at 0.61, strong. The link has tightened recently: the 1-year correlation (0.72) runs above the 3-year figure (0.61). The 5-year figure is 0.56, and annualized covariance runs at 1039.8 %².
Among the 32 assets we track against DOW, PTEN ranks #7 by 3-year correlation. The last year tells two different stories: PTEN led by 96.4 percentage points, +29.0% for DOW 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.
DOW vs PTEN: side by side
| DOW (Dow Inc.) | PTEN (Patterson-UTI Energy, Inc.) | |
|---|---|---|
| 1-year return | +29.0% | +125.4% |
| 5-year return | -38.4% | +84.8% |
| Volatility (ann.) | 35.2% | 48.6% |
| Beta vs S&P 500 | 0.62 | 0.60 |
| Max drawdown (3Y) | -62.2% | -64.6% |
| Market cap | $21.9B | $4.7B |
| P/E (trailing) | – | – |
| Dividend yield | 4.62% | 3.06% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | DOW | PTEN |
|---|---|---|
| 2022 | -6.6% | +101.7% |
| 2023 | +14.7% | -34.2% |
| 2024 | -22.8% | -21.0% |
| 2025 | -37.4% | -22.1% |
| 2026 | +32.6% | +104.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOW and PTEN good diversifiers for each other?
To a limited degree. At 0.61 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 DOW and PTEN?
As of 2026-08-27, the correlation of weekly returns between DOW and PTEN is 0.61 over 3 years, 0.72 over 1 year and 0.56 over 5 years.
Is PTEN a good diversifier for DOW?
To a limited degree. At 0.61 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 0.61 mean?
A reading of 0.61 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/dow-vs-pten.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dow-vs-pten/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOW correlations · PTEN correlations
