PACS vs TPL: Correlation
Measured on weekly returns over the past three years, PACS Group, Inc. (PACS) and Texas Pacific Land Corporation (TPL) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PACS and TPL?
Across a 3-year window, the weekly returns of PACS and TPL correlate at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.30 versus -0.18 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -1203.5 %².
By 3-year correlation, TPL places #15 of the 35 assets tracked against PACS. Their recent paths diverged sharply: over the last 12 months PACS outperformed by 250.2 percentage points (+273.0% for PACS against +22.8% for TPL). Note the risk asymmetry: PACS runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PACS vs TPL: side by side
| PACS (PACS Group, Inc.) | TPL (Texas Pacific Land Corporation) | |
|---|---|---|
| 1-year return | +273.0% | +22.8% |
| 5-year return | n/a | +149.6% |
| Volatility (ann.) | 120.5% | 50.0% |
| Beta vs S&P 500 | 0.06 | 0.62 |
| Max drawdown (3Y) | -82.0% | -52.2% |
| Market cap | $7.0B | $25.5B |
| P/E (trailing) | 25.9 | 47.2 |
| Dividend yield | 0.00% | 0.61% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | PACS | TPL |
|---|---|---|
| 2022 | – | +91.3% |
| 2023 | – | -32.4% |
| 2024 | – | +115.3% |
| 2025 | +192.8% | -21.6% |
| 2026 | +15.2% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PACS and TPL good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PACS and TPL?
As of 2026-08-27, the correlation of weekly returns between PACS and TPL is -0.18 over 3 years, -0.30 over 1 year and n/a over 5 years.
Is TPL a good diversifier for PACS?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/pacs-vs-tpl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pacs-vs-tpl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PACS correlations · TPL correlations
