DWSN vs WTI: Correlation
How closely do Dawson Geophysical Company (DWSN) and W&T Offshore, Inc. (WTI) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DWSN and WTI?
Across a 3-year window, the weekly returns of DWSN and WTI correlate at 0.31, moderate. The past 12 months show a tighter link (0.51) than the 3-year average (0.31). Stretching to 5 years gives 0.19, with an annualized covariance of 1735.8 %².
Among the 17 assets we track against DWSN, WTI ranks #5 by 3-year correlation. Over the last 12 months WTI came out ahead by 11.4 percentage points (+93.5% against +104.9%).
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.
DWSN vs WTI: side by side
| DWSN (Dawson Geophysical Company) | WTI (W&T Offshore, Inc.) | |
|---|---|---|
| 1-year return | +93.5% | +104.9% |
| 5-year return | +93.2% | +18.8% |
| Volatility (ann.) | 86.8% | 64.6% |
| Beta vs S&P 500 | -0.14 | 0.24 |
| Max drawdown (3Y) | -64.3% | -74.3% |
| Market cap | $0.1B | $0.6B |
| P/E (trailing) | 27.1 | – |
| Dividend yield | 0.00% | 1.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DWSN | WTI |
|---|---|---|
| 2022 | -15.5% | +72.8% |
| 2023 | -6.6% | -41.4% |
| 2024 | -14.2% | -48.2% |
| 2025 | +16.4% | +0.6% |
| 2026 | +108.3% | +126.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DWSN and WTI good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DWSN and WTI?
The DWSN/WTI correlation stands at 0.31 on a 3-year window (1 year: 0.51, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is WTI a good diversifier for DWSN?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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/dwsn-vs-wti.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dwsn-vs-wti/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DWSN correlations · WTI correlations
