HPK vs PR: Correlation
Measured on weekly returns over the past three years, HighPeak Energy, Inc. (HPK) and Permian Resources Corporation (PR) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPK and PR?
On 3 years of weekly data the HPK/PR correlation comes out at 0.69, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.69 over 3. The 5-year figure is 0.54, and annualized covariance runs at 1355.4 %².
Few assets follow HPK as closely as PR, which ranks #1 of 13 tracked partners. The last year tells two different stories: PR led by 63.1 percentage points, +7.2% for HPK against +70.3% for PR. One caveat on sizing: HPK is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PR: side by side
| HPK (HighPeak Energy, Inc.) | PR (Permian Resources Corporation) | |
|---|---|---|
| 1-year return | +7.2% | +70.3% |
| 5-year return | -11.4% | +430.6% |
| Volatility (ann.) | 55.8% | 35.4% |
| Beta vs S&P 500 | 0.31 | 0.39 |
| Max drawdown (3Y) | -77.8% | -39.9% |
| Market cap | $1.0B | $19.4B |
| P/E (trailing) | – | 14.7 |
| Dividend yield | 1.03% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HPK | PR |
|---|---|---|
| 2022 | +56.9% | +57.9% |
| 2023 | -37.4% | +49.4% |
| 2024 | +4.3% | +10.7% |
| 2025 | -67.2% | +1.9% |
| 2026 | +68.8% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPK and PR good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HPK and PR?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.63 over the last year and 0.54 over 5 years.
Is PR a good diversifier for HPK?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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/hpk-vs-pr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hpk-vs-pr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HPK correlations · PR correlations
