OABI vs PARR: Correlation
Measured on weekly returns over the past three years, OmniAb, Inc. (OABI) and Par Pacific Holdings, Inc. (PARR) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OABI and PARR?
On 3 years of weekly data the OABI/PARR correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.47) runs below the 3-year figure (-0.23). The 5-year figure is -0.13, and annualized covariance runs at -806.7 %².
PARR is close to the least connected end of OABI's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months OABI outperformed by 60.8 percentage points (+186.3% for OABI against +125.5% for PARR).
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.
OABI vs PARR: side by side
| OABI (OmniAb, Inc.) | PARR (Par Pacific Holdings, Inc.) | |
|---|---|---|
| 1-year return | +186.3% | +125.5% |
| 5-year return | -52.8% | +375.6% |
| Volatility (ann.) | 67.6% | 51.3% |
| Beta vs S&P 500 | 1.30 | 0.13 |
| Max drawdown (3Y) | -81.3% | -69.7% |
| Market cap | $0.7B | $3.9B |
| P/E (trailing) | – | 4.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OABI | PARR |
|---|---|---|
| 2022 | -64.0% | +41.0% |
| 2023 | +71.4% | +56.4% |
| 2024 | -42.6% | -54.9% |
| 2025 | -47.7% | +114.4% |
| 2026 | +149.2% | +119.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OABI and PARR 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 OABI and PARR?
The OABI/PARR correlation stands at -0.23 on a 3-year window (1 year: -0.47, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is PARR a good diversifier for OABI?
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?
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/oabi-vs-parr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oabi-vs-parr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OABI correlations · PARR correlations
