HPK vs IDR: Correlation
HighPeak Energy, Inc. (HPK) and Idaho Strategic Resources, Inc. (IDR) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPK and IDR?
Over the past 3 years, HPK and IDR moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.48 versus -0.23 over 3 years. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -938.3 %².
IDR is close to the least connected end of HPK's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months IDR outperformed by 19.1 percentage points (+7.2% for HPK against +26.3% for IDR).
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.
HPK vs IDR: side by side
| HPK (HighPeak Energy, Inc.) | IDR (Idaho Strategic Resources, Inc.) | |
|---|---|---|
| 1-year return | +7.2% | +26.3% |
| 5-year return | -11.4% | +702.8% |
| Volatility (ann.) | 55.8% | 73.6% |
| Beta vs S&P 500 | 0.31 | 0.68 |
| Max drawdown (3Y) | -77.8% | -50.0% |
| Market cap | $1.0B | $0.5B |
| P/E (trailing) | – | 22.6 |
| Dividend yield | 1.03% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HPK | IDR |
|---|---|---|
| 2022 | +56.9% | -23.4% |
| 2023 | -37.4% | +11.1% |
| 2024 | +4.3% | +61.0% |
| 2025 | -67.2% | +295.5% |
| 2026 | +68.8% | -16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPK and IDR good diversifiers for each other?
Yes. With a correlation of -0.23, HPK and IDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HPK and IDR?
The HPK/IDR correlation stands at -0.23 on a 3-year window (1 year: -0.48, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is IDR a good diversifier for HPK?
Yes. With a correlation of -0.23, HPK and IDR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hpk-vs-idr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hpk-vs-idr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HPK correlations · IDR correlations
