GLD vs PARR: Correlation
Measured on weekly returns over the past three years, SPDR Gold Shares (GLD) and Par Pacific Holdings, Inc. (PARR) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLD and PARR?
On 3 years of weekly data the GLD/PARR correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.18). The 5-year figure is -0.07, and annualized covariance runs at -172.7 %².
Among the 30 assets we track against GLD, PARR ranks #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PARR outperformed by 90.4 percentage points (+35.1% for GLD against +125.5% for PARR). Risk is not evenly split, since PARR carries 2.7 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.
GLD vs PARR: side by side
| GLD (SPDR Gold Shares) | PARR (Par Pacific Holdings, Inc.) | |
|---|---|---|
| 1-year return | +35.1% | +125.5% |
| 5-year return | +149.5% | +375.6% |
| Volatility (ann.) | 18.7% | 51.3% |
| Beta vs S&P 500 | 0.18 | 0.13 |
| Max drawdown (3Y) | -26.4% | -69.7% |
| Market cap | – | $3.9B |
| P/E (trailing) | – | 4.4 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Commodities | US Listed |
Year-by-year returns
| Year | GLD | PARR |
|---|---|---|
| 2022 | -0.8% | +41.0% |
| 2023 | +12.7% | +56.4% |
| 2024 | +26.7% | -54.9% |
| 2025 | +63.7% | +114.4% |
| 2026 | +6.6% | +119.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLD and PARR good diversifiers for each other?
Yes. With a correlation of -0.18, GLD and PARR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GLD and PARR?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.43 over the last year and -0.07 over 5 years.
Is PARR a good diversifier for GLD?
Yes. With a correlation of -0.18, GLD and PARR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gld-vs-parr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gld-vs-parr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GLD correlations · PARR correlations
