MTDR vs PR: Correlation
How closely do Matador Resources Company (MTDR) and Permian Resources Corporation (PR) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTDR and PR?
Over the past 3 years, MTDR and PR moved with a correlation of 0.88, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.79 over 1 year against 0.88 over 3. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 1250.0 %².
PR is one of the assets that tracks MTDR most closely: it ranks #1 out of the 27 assets we track against MTDR. Their recent paths diverged sharply: over the last 12 months PR outperformed by 52.9 percentage points (+17.4% for MTDR against +70.3% for PR).
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.
MTDR vs PR: side by side
| MTDR (Matador Resources Company) | PR (Permian Resources Corporation) | |
|---|---|---|
| 1-year return | +17.4% | +70.3% |
| 5-year return | +115.7% | +430.6% |
| Volatility (ann.) | 40.3% | 35.4% |
| Beta vs S&P 500 | 0.49 | 0.39 |
| Max drawdown (3Y) | -46.8% | -39.9% |
| Market cap | $7.0B | $19.4B |
| P/E (trailing) | 9.7 | 14.7 |
| Dividend yield | 2.60% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTDR | PR |
|---|---|---|
| 2022 | +55.8% | +57.9% |
| 2023 | +0.6% | +49.4% |
| 2024 | +0.4% | +10.7% |
| 2025 | -22.3% | +1.9% |
| 2026 | +36.7% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTDR and PR good diversifiers for each other?
No: a correlation of 0.88 means MTDR and PR tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between MTDR and PR?
The MTDR/PR correlation stands at 0.88 on a 3-year window (1 year: 0.79, 5 years: 0.85), computed from weekly returns as of 2026-08-27.
Is PR a good diversifier for MTDR?
No: a correlation of 0.88 means MTDR and PR tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.88 mean?
On the −1 to +1 scale, 0.88 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/mtdr-vs-pr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mtdr-vs-pr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTDR correlations · PR correlations
