LOCL vs PSX: Correlation
Measured on weekly returns over the past three years, Local Bounti Corporation (LOCL) and Phillips 66 (PSX) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOCL and PSX?
Across a 3-year window, the weekly returns of LOCL and PSX correlate at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.08 over 1 year against -0.18 over 3. Stretching to 5 years gives -0.08, with an annualized covariance of -860.8 %².
Within LOCL's tracked universe of 34 assets, PSX comes in at #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PSX ahead by 145.0 points (-58.8% versus +86.2%). Risk is not evenly split, since LOCL carries 4.3 times the volatility of the other side.
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.
LOCL vs PSX: side by side
| LOCL (Local Bounti Corporation) | PSX (Phillips 66) | |
|---|---|---|
| 1-year return | -58.8% | +86.2% |
| 5-year return | -99.2% | +301.8% |
| Volatility (ann.) | 142.7% | 33.4% |
| Beta vs S&P 500 | -0.49 | 0.58 |
| Max drawdown (3Y) | -79.4% | -44.4% |
| Market cap | – | $96.1B |
| P/E (trailing) | – | 13.8 |
| Dividend yield | 0.00% | 2.04% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | LOCL | PSX |
|---|---|---|
| 2022 | -78.4% | +49.6% |
| 2023 | -88.5% | +33.1% |
| 2024 | +0.0% | -11.6% |
| 2025 | +3.4% | +17.5% |
| 2026 | -53.8% | +89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOCL and PSX good diversifiers for each other?
Yes. With a correlation of -0.18, LOCL and PSX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LOCL and PSX?
As of 2026-08-27, the correlation of weekly returns between LOCL and PSX is -0.18 over 3 years, -0.08 over 1 year and -0.08 over 5 years.
Is PSX a good diversifier for LOCL?
Yes. With a correlation of -0.18, LOCL and PSX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/locl-vs-psx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/locl-vs-psx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LOCL correlations · PSX correlations
