PARR vs WPM: Correlation
Par Pacific Holdings, Inc. (PARR) and Wheaton Precious Metals Corp (WPM) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PARR and WPM?
On 3 years of weekly data the PARR/WPM correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.53) runs below the 3-year figure (-0.25). The 5-year figure is -0.10, and annualized covariance runs at -525.5 %².
Among the 22 assets we track against PARR, WPM sits near the bottom by co-movement, at rank #19. Their recent paths diverged sharply: over the last 12 months PARR outperformed by 61.2 percentage points (+125.5% for PARR against +64.3% for WPM).
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 WPM: side by side
| PARR (Par Pacific Holdings, Inc.) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +125.5% | +64.3% |
| 5-year return | +375.6% | +275.2% |
| Volatility (ann.) | 51.3% | 41.1% |
| Beta vs S&P 500 | 0.13 | 0.82 |
| Max drawdown (3Y) | -69.7% | -37.4% |
| Market cap | $3.9B | $71.8B |
| P/E (trailing) | 4.4 | 34.6 |
| Dividend yield | 0.00% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PARR | WPM |
|---|---|---|
| 2022 | +41.0% | -7.5% |
| 2023 | +56.4% | +27.9% |
| 2024 | -54.9% | +15.2% |
| 2025 | +114.4% | +109.8% |
| 2026 | +119.2% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PARR and WPM good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between PARR and WPM?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.53 over the last year and -0.10 over 5 years.
Is WPM a good diversifier for PARR?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 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-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/parr-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PARR correlations · WPM correlations
