PANW vs PBR: Correlation
Palo Alto Networks (PANW) and Petroleo Brasileiro S.A. Petrobras (PBR) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PANW and PBR?
Across a 3-year window, the weekly returns of PANW and PBR correlate at -0.17, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.17). Stretching to 5 years gives -0.01, with an annualized covariance of -235.9 %².
By 3-year correlation, PBR places #22 of the 30 assets tracked against PANW. The last year tells two different stories: PANW led by 48.0 percentage points, +104.1% for PANW against +56.1% for PBR.
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.
PANW vs PBR: side by side
| PANW (Palo Alto Networks) | PBR (Petroleo Brasileiro S.A. Petrobras) | |
|---|---|---|
| 1-year return | +104.1% | +56.1% |
| 5-year return | +400.7% | +417.1% |
| Volatility (ann.) | 42.0% | 32.9% |
| Beta vs S&P 500 | 1.32 | -0.08 |
| Max drawdown (3Y) | -36.0% | -26.9% |
| Market cap | $312.0B | $117.6B |
| P/E (trailing) | 294.5 | 4.5 |
| Dividend yield | 0.00% | 20.65% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | PANW | PBR |
|---|---|---|
| 2022 | -24.8% | +57.2% |
| 2023 | +111.3% | +89.2% |
| 2024 | +23.4% | -2.3% |
| 2025 | +1.2% | -1.1% |
| 2026 | +107.8% | +60.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PANW and PBR good diversifiers for each other?
Yes. With a correlation of -0.17, PANW and PBR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PANW and PBR?
As of 2026-08-27, the correlation of weekly returns between PANW and PBR is -0.17 over 3 years, -0.42 over 1 year and -0.01 over 5 years.
Is PBR a good diversifier for PANW?
Yes. With a correlation of -0.17, PANW and PBR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
A reading of -0.17 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/panw-vs-pbr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/panw-vs-pbr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PANW correlations · PBR correlations
