GFR vs PDS: Correlation
Greenfire Resources Ltd. (GFR) and Precision Drilling Corporation (PDS) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GFR and PDS?
Over the past 3 years, GFR and PDS moved with a correlation of 0.46, which is moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 940.6 %².
Within GFR's tracked universe of 11 assets, PDS comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PDS outperformed by 35.3 percentage points (+23.0% for GFR against +58.3% for PDS).
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.
GFR vs PDS: side by side
| GFR (Greenfire Resources Ltd.) | PDS (Precision Drilling Corporation) | |
|---|---|---|
| 1-year return | +23.0% | +58.3% |
| 5-year return | -37.0% | +182.9% |
| Volatility (ann.) | 53.7% | 37.7% |
| Beta vs S&P 500 | 0.55 | 0.49 |
| Max drawdown (3Y) | -63.5% | -50.5% |
| Market cap | $0.9B | $1.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GFR | PDS |
|---|---|---|
| 2022 | +2.7% | +116.5% |
| 2023 | -52.1% | -29.2% |
| 2024 | +45.3% | +12.5% |
| 2025 | -32.6% | +17.7% |
| 2026 | +29.2% | +25.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GFR and PDS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GFR and PDS?
The GFR/PDS correlation stands at 0.46 on a 3-year window (1 year: 0.47, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is PDS a good diversifier for GFR?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/gfr-vs-pds.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gfr-vs-pds/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GFR correlations · PDS correlations
