FANG vs RKT: Correlation
Measured on weekly returns over the past three years, Diamondback Energy (FANG) and Rocket Companies, Inc. (RKT) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FANG and RKT?
Over the past 3 years, FANG and RKT moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.48) runs below the 3-year figure (-0.25). Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -475.1 %².
Among the 41 assets we track against FANG, RKT ranks #35 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FANG ahead by 60.8 points (+39.6% versus -21.2%). Risk is not evenly split, since RKT carries 1.6 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.
FANG vs RKT: side by side
| FANG (Diamondback Energy) | RKT (Rocket Companies, Inc.) | |
|---|---|---|
| 1-year return | +39.6% | -21.2% |
| 5-year return | +224.9% | -7.5% |
| Volatility (ann.) | 34.1% | 55.4% |
| Beta vs S&P 500 | 0.32 | 1.02 |
| Max drawdown (3Y) | -42.1% | -50.6% |
| Market cap | $56.1B | $40.3B |
| P/E (trailing) | 38.0 | – |
| Dividend yield | 2.13% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | FANG | RKT |
|---|---|---|
| 2022 | +35.3% | -46.2% |
| 2023 | +19.7% | +106.9% |
| 2024 | +10.3% | -22.2% |
| 2025 | -5.6% | +81.7% |
| 2026 | +35.7% | -26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FANG and RKT good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FANG and RKT?
As of 2026-08-27, the correlation of weekly returns between FANG and RKT is -0.25 over 3 years, -0.48 over 1 year and -0.07 over 5 years.
Is RKT a good diversifier for FANG?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/fang-vs-rkt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fang-vs-rkt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FANG correlations · RKT correlations
