LB vs RNGR: Correlation
How closely do LandBridge Company LLC Class A Shares Representing Limited (LB) and Ranger Energy Services, Inc. (RNGR) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LB and RNGR?
Across a 3-year window, the weekly returns of LB and RNGR correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 1141.2 %².
Among the 15 assets we track against LB, RNGR ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LB ahead by 54.2 points (+73.2% versus +19.0%). One caveat on sizing: LB is 1.7 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.
LB vs RNGR: side by side
| LB (LandBridge Company LLC Class A Shares Representing Limited) | RNGR (Ranger Energy Services, Inc.) | |
|---|---|---|
| 1-year return | +73.2% | +19.0% |
| 5-year return | n/a | +129.0% |
| Volatility (ann.) | 63.4% | 37.1% |
| Beta vs S&P 500 | 1.65 | 0.49 |
| Max drawdown (3Y) | -48.2% | -40.5% |
| Market cap | $6.9B | $0.4B |
| P/E (trailing) | 79.0 | 26.4 |
| Dividend yield | 0.50% | 1.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LB | RNGR |
|---|---|---|
| 2022 | – | +7.2% |
| 2023 | – | -6.3% |
| 2024 | – | +53.9% |
| 2025 | -23.7% | -7.9% |
| 2026 | +82.7% | +18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LB and RNGR good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LB and RNGR?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.40 over the last year and n/a over 5 years.
Is RNGR a good diversifier for LB?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 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/lb-vs-rngr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lb-vs-rngr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LB correlations · RNGR correlations
