EPD vs PBT: Correlation
How closely do Enterprise Products Partners L.P. (EPD) and Permian Basin Royalty Trust (PBT) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EPD and PBT?
Across a 3-year window, the weekly returns of EPD and PBT correlate at 0.47, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.47 over 3. Stretching to 5 years gives 0.43, with an annualized covariance of 303.1 %².
Within EPD's tracked universe of 12 assets, PBT comes in at #6 by 3-year correlation. The last year tells two different stories: PBT led by 76.9 percentage points, +31.5% for EPD against +108.4% for PBT. One caveat on sizing: PBT is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EPD vs PBT: side by side
| EPD (Enterprise Products Partners L.P.) | PBT (Permian Basin Royalty Trust) | |
|---|---|---|
| 1-year return | +31.5% | +108.4% |
| 5-year return | +150.0% | +669.6% |
| Volatility (ann.) | 16.4% | 39.6% |
| Beta vs S&P 500 | 0.15 | 0.48 |
| Max drawdown (3Y) | -15.4% | -57.6% |
| Market cap | $84.3B | $1.6B |
| P/E (trailing) | 13.6 | 96.2 |
| Dividend yield | 5.63% | 0.81% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EPD | PBT |
|---|---|---|
| 2022 | +18.3% | +166.2% |
| 2023 | +17.7% | -42.8% |
| 2024 | +28.0% | -16.9% |
| 2025 | +9.5% | +56.6% |
| 2026 | +27.5% | +100.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EPD and PBT good diversifiers for each other?
Reasonably. At 0.47, EPD and PBT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EPD and PBT?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.50 over the last year and 0.43 over 5 years.
Is PBT a good diversifier for EPD?
Reasonably. At 0.47, EPD and PBT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/epd-vs-pbt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/epd-vs-pbt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EPD correlations · PBT correlations
