PARR vs SLV: Correlation
Measured on weekly returns over the past three years, Par Pacific Holdings, Inc. (PARR) and iShares Silver Trust (SLV) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PARR and SLV?
On 3 years of weekly data the PARR/SLV correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.20 over 3 years. The 5-year figure is -0.10, and annualized covariance runs at -389.2 %².
Within PARR's tracked universe of 22 assets, SLV comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PARR outperformed by 46.1 percentage points (+125.5% for PARR against +79.4% for SLV).
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 SLV: side by side
| PARR (Par Pacific Holdings, Inc.) | SLV (iShares Silver Trust) | |
|---|---|---|
| 1-year return | +125.5% | +79.4% |
| 5-year return | +375.6% | +182.0% |
| Volatility (ann.) | 51.3% | 38.6% |
| Beta vs S&P 500 | 0.13 | 0.80 |
| Max drawdown (3Y) | -69.7% | -52.3% |
| Market cap | $3.9B | – |
| P/E (trailing) | 4.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Expense ratio | – | 0.50% |
| Assets under management | – | $28.1B |
| Sector / category | US Listed | ETF · Commodities |
SLV, iShares's Commodities Focused fund, carries $28.1B under management, a 0.50% expense ratio, a 0.00% trailing dividend yield.
Year-by-year returns
| Year | PARR | SLV |
|---|---|---|
| 2022 | +41.0% | +2.4% |
| 2023 | +56.4% | -1.1% |
| 2024 | -54.9% | +20.9% |
| 2025 | +114.4% | +144.7% |
| 2026 | +119.2% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PARR and SLV good diversifiers for each other?
Yes. With a correlation of -0.20, PARR and SLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PARR and SLV?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.49 over the last year and -0.10 over 5 years.
Is SLV a good diversifier for PARR?
Yes. With a correlation of -0.20, PARR and SLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/parr-vs-slv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/parr-vs-slv/)
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Related comparisons
Hubs: PARR correlations · SLV correlations
