LBRT vs UTZ: Correlation
How closely do Liberty Energy Inc. (LBRT) and Utz Brands Inc (UTZ) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LBRT and UTZ?
Over the past 3 years, LBRT and UTZ moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.26). Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -960.4 %².
Out of 14 assets tracked against LBRT, UTZ lands near the bottom at #12. The last year tells two different stories: LBRT led by 65.6 percentage points, +73.9% for LBRT against +8.3% for UTZ.
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 UTZ: side by side
| LBRT (Liberty Energy Inc.) | UTZ (Utz Brands Inc) | |
|---|---|---|
| 1-year return | +73.9% | +8.3% |
| 5-year return | +101.9% | -16.7% |
| Volatility (ann.) | 55.9% | 65.9% |
| Beta vs S&P 500 | 0.91 | 0.07 |
| Max drawdown (3Y) | -58.8% | -63.8% |
| Market cap | $3.1B | $2.0B |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 1.89% | 2.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LBRT | UTZ |
|---|---|---|
| 2022 | +65.6% | +0.9% |
| 2023 | +14.8% | +3.9% |
| 2024 | +11.2% | -2.1% |
| 2025 | -4.9% | -32.3% |
| 2026 | +5.0% | +39.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LBRT and UTZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between LBRT and UTZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.46 over the last year and -0.17 over 5 years.
Is UTZ a good diversifier for LBRT?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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-utz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lbrt-vs-utz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LBRT correlations · UTZ correlations
