MTDR vs TPL: Correlation
How closely do Matador Resources Company (MTDR) and Texas Pacific Land Corporation (TPL) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTDR and TPL?
Across a 3-year window, the weekly returns of MTDR and TPL correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.50, with an annualized covariance of 962.4 %².
By 3-year correlation, TPL places #21 of the 27 assets tracked against MTDR. The trailing year gives TPL the advantage: +17.4% versus +22.8%, a 5.4-point spread.
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 TPL: side by side
| MTDR (Matador Resources Company) | TPL (Texas Pacific Land Corporation) | |
|---|---|---|
| 1-year return | +17.4% | +22.8% |
| 5-year return | +115.7% | +149.6% |
| Volatility (ann.) | 40.3% | 50.0% |
| Beta vs S&P 500 | 0.49 | 0.62 |
| Max drawdown (3Y) | -46.8% | -52.2% |
| Market cap | $7.0B | $25.5B |
| P/E (trailing) | 9.7 | 47.2 |
| Dividend yield | 2.60% | 0.61% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | MTDR | TPL |
|---|---|---|
| 2022 | +55.8% | +91.3% |
| 2023 | +0.6% | -32.4% |
| 2024 | +0.4% | +115.3% |
| 2025 | -22.3% | -21.6% |
| 2026 | +36.7% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTDR and TPL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MTDR and TPL?
As of 2026-08-27, the correlation of weekly returns between MTDR and TPL is 0.48 over 3 years, 0.40 over 1 year and 0.50 over 5 years.
Is TPL a good diversifier for MTDR?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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-tpl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtdr-vs-tpl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MTDR correlations · TPL correlations
