PBT vs TDG: Correlation
Measured on weekly returns over the past three years, Permian Basin Royalty Trust (PBT) and TransDigm Group (TDG) 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 PBT and TDG?
Across a 3-year window, the weekly returns of PBT and TDG correlate at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Stretching to 5 years gives 0.04, with an annualized covariance of -207.2 %².
Among the 11 assets we track against PBT, TDG sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with PBT ahead by 117.5 points (+108.4% versus -9.1%). One caveat on sizing: PBT is 1.6 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.
PBT vs TDG: side by side
| PBT (Permian Basin Royalty Trust) | TDG (TransDigm Group) | |
|---|---|---|
| 1-year return | +108.4% | -9.1% |
| 5-year return | +669.6% | +136.5% |
| Volatility (ann.) | 39.6% | 25.5% |
| Beta vs S&P 500 | 0.48 | 0.91 |
| Max drawdown (3Y) | -57.6% | -25.3% |
| Market cap | $1.6B | $65.6B |
| P/E (trailing) | 96.2 | 36.6 |
| Dividend yield | 0.81% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | PBT | TDG |
|---|---|---|
| 2022 | +166.2% | +1.8% |
| 2023 | -42.8% | +66.6% |
| 2024 | -16.9% | +32.3% |
| 2025 | +56.6% | +12.2% |
| 2026 | +100.0% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBT and TDG good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between PBT and TDG?
As of 2026-08-27, the correlation of weekly returns between PBT and TDG is -0.20 over 3 years, -0.23 over 1 year and 0.04 over 5 years.
Is TDG a good diversifier for PBT?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 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/pbt-vs-tdg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pbt-vs-tdg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PBT correlations · TDG correlations
