FANG vs PTEN: Correlation
How closely do Diamondback Energy (FANG) and Patterson-UTI Energy, Inc. (PTEN) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FANG and PTEN?
On 3 years of weekly data the FANG/PTEN correlation comes out at 0.77, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.77 over 3. The 5-year figure is 0.75, and annualized covariance runs at 1274.0 %².
Among the 41 assets we track against FANG, PTEN ranks #18 by 3-year correlation. The last year tells two different stories: PTEN led by 85.8 percentage points, +39.6% for FANG 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.
FANG vs PTEN: side by side
| FANG (Diamondback Energy) | PTEN (Patterson-UTI Energy, Inc.) | |
|---|---|---|
| 1-year return | +39.6% | +125.4% |
| 5-year return | +224.9% | +84.8% |
| Volatility (ann.) | 34.1% | 48.6% |
| Beta vs S&P 500 | 0.32 | 0.60 |
| Max drawdown (3Y) | -42.1% | -64.6% |
| Market cap | $56.1B | $4.7B |
| P/E (trailing) | 38.0 | – |
| Dividend yield | 2.13% | 3.06% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | FANG | PTEN |
|---|---|---|
| 2022 | +35.3% | +101.7% |
| 2023 | +19.7% | -34.2% |
| 2024 | +10.3% | -21.0% |
| 2025 | -5.6% | -22.1% |
| 2026 | +35.7% | +104.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FANG and PTEN good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FANG and PTEN?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.72 over the last year and 0.75 over 5 years.
Is PTEN a good diversifier for FANG?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
On the −1 to +1 scale, 0.77 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: FANG correlations · PTEN correlations
