PARR vs PPTA: Correlation
Par Pacific Holdings, Inc. (PARR) and Perpetua Resources Corp. (PPTA) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PARR and PPTA?
Over the past 3 years, PARR and PPTA moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.46) runs below the 3-year figure (-0.26). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -1040.3 %².
PPTA is close to the least connected end of PARR's tracked universe, ranking #20 of 22. Correlation aside, the last 12 months split them widely, with PARR ahead by 84.8 points (+125.5% versus +40.7%). One caveat on sizing: PPTA is 1.5 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.
PARR vs PPTA: side by side
| PARR (Par Pacific Holdings, Inc.) | PPTA (Perpetua Resources Corp.) | |
|---|---|---|
| 1-year return | +125.5% | +40.7% |
| 5-year return | +375.6% | +427.8% |
| Volatility (ann.) | 51.3% | 77.8% |
| Beta vs S&P 500 | 0.13 | 0.85 |
| Max drawdown (3Y) | -69.7% | -54.6% |
| Market cap | $3.9B | $3.3B |
| P/E (trailing) | 4.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PARR | PPTA |
|---|---|---|
| 2022 | +41.0% | -38.5% |
| 2023 | +56.4% | +8.6% |
| 2024 | -54.9% | +236.6% |
| 2025 | +114.4% | +126.9% |
| 2026 | +119.2% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PARR and PPTA good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PARR and PPTA?
The PARR/PPTA correlation stands at -0.26 on a 3-year window (1 year: -0.46, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is PPTA a good diversifier for PARR?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/parr-vs-ppta.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/parr-vs-ppta/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PARR correlations · PPTA correlations
