OWL vs TPG: Correlation
Measured on weekly returns over the past three years, Blue Owl Capital Inc. (OWL) and TPG Inc. (TPG) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OWL and TPG?
Over the past 3 years, OWL and TPG moved with a correlation of 0.75, which is strong. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 1186.8 %².
Few assets follow OWL as closely as TPG, which ranks #2 of 16 tracked partners. Their recent paths diverged sharply: over the last 12 months TPG outperformed by 22.1 percentage points (-30.2% for OWL against -8.1% for TPG).
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.
OWL vs TPG: side by side
| OWL (Blue Owl Capital Inc.) | TPG (TPG Inc.) | |
|---|---|---|
| 1-year return | -30.2% | -8.1% |
| 5-year return | +8.2% | +91.2% |
| Volatility (ann.) | 41.9% | 37.6% |
| Beta vs S&P 500 | 1.77 | 1.62 |
| Max drawdown (3Y) | -67.1% | -44.8% |
| Market cap | $18.8B | $21.1B |
| P/E (trailing) | 100.2 | 78.2 |
| Dividend yield | 7.71% | 4.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OWL | TPG |
|---|---|---|
| 2022 | -26.3% | – |
| 2023 | +47.4% | +62.4% |
| 2024 | +61.8% | +50.6% |
| 2025 | -32.8% | +5.1% |
| 2026 | -14.4% | -12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OWL and TPG good diversifiers for each other?
Only partially. A correlation of 0.75 means OWL and TPG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between OWL and TPG?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.77 over the last year and 0.77 over 5 years.
Is TPG a good diversifier for OWL?
Only partially. A correlation of 0.75 means OWL and TPG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 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/owl-vs-tpg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/owl-vs-tpg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OWL correlations · TPG correlations
