LOCL vs TPL: Correlation
Measured on weekly returns over the past three years, Local Bounti Corporation (LOCL) and Texas Pacific Land Corporation (TPL) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOCL and TPL?
Over the past 3 years, LOCL and TPL moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.19 over 3. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -1362.8 %².
By 3-year correlation, TPL places #16 of the 34 assets tracked against LOCL. Correlation aside, the last 12 months split them widely, with TPL ahead by 81.6 points (-58.8% versus +22.8%). One caveat on sizing: LOCL is 2.9 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.
LOCL vs TPL: side by side
| LOCL (Local Bounti Corporation) | TPL (Texas Pacific Land Corporation) | |
|---|---|---|
| 1-year return | -58.8% | +22.8% |
| 5-year return | -99.2% | +149.6% |
| Volatility (ann.) | 142.7% | 50.0% |
| Beta vs S&P 500 | -0.49 | 0.62 |
| Max drawdown (3Y) | -79.4% | -52.2% |
| Market cap | – | $25.5B |
| P/E (trailing) | – | 47.2 |
| Dividend yield | 0.00% | 0.61% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | LOCL | TPL |
|---|---|---|
| 2022 | -78.4% | +91.3% |
| 2023 | -88.5% | -32.4% |
| 2024 | +0.0% | +115.3% |
| 2025 | +3.4% | -21.6% |
| 2026 | -53.8% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOCL and TPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between LOCL and TPL?
As of 2026-08-27, the correlation of weekly returns between LOCL and TPL is -0.19 over 3 years, -0.17 over 1 year and -0.09 over 5 years.
Is TPL a good diversifier for LOCL?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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/locl-vs-tpl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/locl-vs-tpl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LOCL correlations · TPL correlations
