EOG vs TPL: Correlation
EOG Resources (EOG) and Texas Pacific Land Corporation (TPL) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOG and TPL?
On 3 years of weekly data the EOG/TPL correlation comes out at 0.50, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.50 over 3. The 5-year figure is 0.51, and annualized covariance runs at 705.4 %².
Among the 40 assets we track against EOG, TPL ranks #27 by 3-year correlation. Neither side won the trailing year by much: +21.7% against +22.8%. On a rolling one-year basis the correlation drifted between 0.29 and 0.61, a moderate band. Risk is not evenly split, since TPL carries 1.8 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.
EOG vs TPL: side by side
| EOG (EOG Resources) | TPL (Texas Pacific Land Corporation) | |
|---|---|---|
| 1-year return | +21.7% | +22.8% |
| 5-year return | +171.5% | +149.6% |
| Volatility (ann.) | 28.1% | 50.0% |
| Beta vs S&P 500 | 0.14 | 0.62 |
| Max drawdown (3Y) | -23.7% | -52.2% |
| Market cap | $75.8B | $25.5B |
| P/E (trailing) | 11.3 | 47.2 |
| Dividend yield | 2.82% | 0.61% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | EOG | TPL |
|---|---|---|
| 2022 | +56.9% | +91.3% |
| 2023 | -2.0% | -32.4% |
| 2024 | +4.3% | +115.3% |
| 2025 | -11.4% | -21.6% |
| 2026 | +41.0% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOG and TPL good diversifiers for each other?
To a limited degree. At 0.50 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 EOG and TPL?
The EOG/TPL correlation stands at 0.50 on a 3-year window (1 year: 0.51, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is TPL a good diversifier for EOG?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 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.
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Related comparisons
Hubs: EOG correlations · TPL correlations
