GRNT vs PR: Correlation
Granite Ridge Resources, Inc. (GRNT) and Permian Resources Corporation (PR) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRNT and PR?
On 3 years of weekly data the GRNT/PR correlation comes out at 0.70, strong. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 971.0 %².
In GRNT's tracked universe of 11 assets, PR sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months PR outperformed by 70.7 percentage points (-0.4% for GRNT against +70.3% for PR).
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.
GRNT vs PR: side by side
| GRNT (Granite Ridge Resources, Inc.) | PR (Permian Resources Corporation) | |
|---|---|---|
| 1-year return | -0.4% | +70.3% |
| 5-year return | -31.9% | +430.6% |
| Volatility (ann.) | 39.2% | 35.4% |
| Beta vs S&P 500 | 0.55 | 0.39 |
| Max drawdown (3Y) | -36.8% | -39.9% |
| Market cap | $0.7B | $19.4B |
| P/E (trailing) | – | 14.7 |
| Dividend yield | 8.80% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRNT | PR |
|---|---|---|
| 2022 | -7.1% | +57.9% |
| 2023 | -28.5% | +49.4% |
| 2024 | +14.9% | +10.7% |
| 2025 | -21.3% | +1.9% |
| 2026 | +12.1% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRNT and PR good diversifiers for each other?
Only partially. A correlation of 0.70 means GRNT and PR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GRNT and PR?
As of 2026-08-27, the correlation of weekly returns between GRNT and PR is 0.70 over 3 years, 0.78 over 1 year and 0.38 over 5 years.
Is PR a good diversifier for GRNT?
Only partially. A correlation of 0.70 means GRNT and PR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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/grnt-vs-pr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grnt-vs-pr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRNT correlations · PR correlations
