LOCL vs RNGR: Correlation
Local Bounti Corporation (LOCL) and Ranger Energy Services, Inc. (RNGR) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOCL and RNGR?
On 3 years of weekly data the LOCL/RNGR correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.25) runs above the 3-year figure (-0.23). The 5-year figure is -0.12, and annualized covariance runs at -1232.1 %².
By 3-year correlation, RNGR places #24 of the 34 assets tracked against LOCL. The last year tells two different stories: RNGR led by 77.8 percentage points, -58.8% for LOCL against +19.0% for RNGR. Risk is not evenly split, since LOCL carries 3.8 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 RNGR: side by side
| LOCL (Local Bounti Corporation) | RNGR (Ranger Energy Services, Inc.) | |
|---|---|---|
| 1-year return | -58.8% | +19.0% |
| 5-year return | -99.2% | +129.0% |
| Volatility (ann.) | 142.7% | 37.1% |
| Beta vs S&P 500 | -0.49 | 0.49 |
| Max drawdown (3Y) | -79.4% | -40.5% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 26.4 |
| Dividend yield | 0.00% | 1.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOCL | RNGR |
|---|---|---|
| 2022 | -78.4% | +7.2% |
| 2023 | -88.5% | -6.3% |
| 2024 | +0.0% | +53.9% |
| 2025 | +3.4% | -7.9% |
| 2026 | -53.8% | +18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOCL and RNGR good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LOCL and RNGR?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with 0.25 over the last year and -0.12 over 5 years.
Is RNGR a good diversifier for LOCL?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-rngr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/locl-vs-rngr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LOCL correlations · RNGR correlations
