PBA vs PPTA: Correlation
Pembina Pipeline Corp. (PBA) and Perpetua Resources Corp. (PPTA) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBA and PPTA?
Over the past 3 years, PBA and PPTA moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.43) runs below the 3-year figure (-0.21). Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is -320.0 %².
PPTA is close to the least connected end of PBA's tracked universe, ranking #9 of 13. The trailing year gives PPTA the advantage: +31.4% versus +40.7%, a 9.3-point spread. Note the risk asymmetry: PPTA runs 3.9 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.
PBA vs PPTA: side by side
| PBA (Pembina Pipeline Corp.) | PPTA (Perpetua Resources Corp.) | |
|---|---|---|
| 1-year return | +31.4% | +40.7% |
| 5-year return | +98.2% | +427.8% |
| Volatility (ann.) | 20.0% | 77.8% |
| Beta vs S&P 500 | 0.08 | 0.85 |
| Max drawdown (3Y) | -17.9% | -54.6% |
| Market cap | $28.1B | $3.3B |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 5.93% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PBA | PPTA |
|---|---|---|
| 2022 | +18.3% | -38.5% |
| 2023 | +7.8% | +8.6% |
| 2024 | +13.2% | +236.6% |
| 2025 | +5.7% | +126.9% |
| 2026 | +30.0% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBA and PPTA good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between PBA and PPTA?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.43 over the last year and 0.08 over 5 years.
Is PPTA a good diversifier for PBA?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/pba-vs-ppta.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pba-vs-ppta/)
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Related comparisons
Hubs: PBA correlations · PPTA correlations
