LBRT vs PTEN: Correlation
How closely do Liberty Energy Inc. (LBRT) and Patterson-UTI Energy, Inc. (PTEN) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LBRT and PTEN?
Over the past 3 years, LBRT and PTEN moved with a correlation of 0.63, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.63 over 3 years. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 1710.8 %².
Among the 14 assets we track against LBRT, PTEN ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PTEN ahead by 51.5 points (+73.9% versus +125.4%).
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.
LBRT vs PTEN: side by side
| LBRT (Liberty Energy Inc.) | PTEN (Patterson-UTI Energy, Inc.) | |
|---|---|---|
| 1-year return | +73.9% | +125.4% |
| 5-year return | +101.9% | +84.8% |
| Volatility (ann.) | 55.9% | 48.6% |
| Beta vs S&P 500 | 0.91 | 0.60 |
| Max drawdown (3Y) | -58.8% | -64.6% |
| Market cap | $3.1B | $4.7B |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 1.89% | 3.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LBRT | PTEN |
|---|---|---|
| 2022 | +65.6% | +101.7% |
| 2023 | +14.8% | -34.2% |
| 2024 | +11.2% | -21.0% |
| 2025 | -4.9% | -22.1% |
| 2026 | +5.0% | +104.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LBRT and PTEN good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LBRT and PTEN?
As of 2026-08-27, the correlation of weekly returns between LBRT and PTEN is 0.63 over 3 years, 0.42 over 1 year and 0.71 over 5 years.
Is PTEN a good diversifier for LBRT?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 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/lbrt-vs-pten.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lbrt-vs-pten/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LBRT correlations · PTEN correlations
