DTI vs PDS: Correlation
How closely do Drilling Tools International Corporation (DTI) and Precision Drilling Corporation (PDS) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTI and PDS?
Across a 3-year window, the weekly returns of DTI and PDS correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.30, with an annualized covariance of 1173.5 %².
Few assets follow DTI as closely as PDS, which ranks #1 of 13 tracked partners. The last year tells two different stories: PDS led by 27.8 percentage points, +30.5% for DTI against +58.3% for PDS. Risk is not evenly split, since DTI carries 1.7 times the volatility of the other side.
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.
DTI vs PDS: side by side
| DTI (Drilling Tools International Corporation) | PDS (Precision Drilling Corporation) | |
|---|---|---|
| 1-year return | +30.5% | +58.3% |
| 5-year return | -74.8% | +182.9% |
| Volatility (ann.) | 65.4% | 37.7% |
| Beta vs S&P 500 | 0.96 | 0.49 |
| Max drawdown (3Y) | -75.0% | -50.5% |
| Market cap | $0.1B | $1.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DTI | PDS |
|---|---|---|
| 2022 | +4.0% | +116.5% |
| 2023 | -68.7% | -29.2% |
| 2024 | +2.2% | +12.5% |
| 2025 | -25.1% | +17.7% |
| 2026 | +1.2% | +25.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTI and PDS good diversifiers for each other?
Reasonably. At 0.48, DTI and PDS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DTI and PDS?
The DTI/PDS correlation stands at 0.48 on a 3-year window (1 year: 0.45, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is PDS a good diversifier for DTI?
Reasonably. At 0.48, DTI and PDS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dti-vs-pds.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dti-vs-pds/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DTI correlations · PDS correlations
