MXC vs TPET: Correlation
Measured on weekly returns over the past three years, Mexco Energy Corporation (MXC) and Trio Petroleum Corp. (TPET) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXC and TPET?
Across a 3-year window, the weekly returns of MXC and TPET correlate at 0.47, moderate. The link has tightened recently: the 1-year correlation (0.70) runs above the 3-year figure (0.47). Stretching to 5 years gives n/a, with an annualized covariance of 7638.6 %².
Among the 56 assets we track against MXC, TPET ranks #6 by 3-year correlation. The last year tells two different stories: MXC led by 102.5 percentage points, +21.6% for MXC against -80.9% for TPET. One caveat on sizing: TPET is 4.3 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.
MXC vs TPET: side by side
| MXC (Mexco Energy Corporation) | TPET (Trio Petroleum Corp.) | |
|---|---|---|
| 1-year return | +21.6% | -80.9% |
| 5-year return | +7.2% | n/a |
| Volatility (ann.) | 62.1% | 264.2% |
| Beta vs S&P 500 | -0.31 | -2.89 |
| Max drawdown (3Y) | -60.6% | -98.5% |
| Market cap | – | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MXC | TPET |
|---|---|---|
| 2022 | +33.0% | – |
| 2023 | -26.2% | – |
| 2024 | +24.6% | -80.5% |
| 2025 | -10.8% | -34.4% |
| 2026 | -0.6% | -72.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXC and TPET good diversifiers for each other?
Reasonably. At 0.47, MXC and TPET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MXC and TPET?
The MXC/TPET correlation stands at 0.47 on a 3-year window (1 year: 0.70, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TPET a good diversifier for MXC?
Reasonably. At 0.47, MXC and TPET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MXC correlations · TPET correlations
