PED vs XLE: Correlation
How closely do Pedevco Corp. (PED) and Energy Select Sector SPDR Fund (XLE) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PED and XLE?
Over the past 3 years, PED and XLE moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 617.7 %².
XLE is one of the assets that tracks PED most closely: it ranks #3 out of the 22 assets we track against PED. Their recent paths diverged sharply: over the last 12 months XLE outperformed by 30.9 percentage points (+13.1% for PED against +44.0% for XLE). Risk is not evenly split, since PED carries 2.3 times the volatility of the other side.
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.
PED vs XLE: side by side
| PED (Pedevco Corp.) | XLE (Energy Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +13.1% | +44.0% |
| 5-year return | -39.7% | +206.7% |
| Volatility (ann.) | 54.0% | 23.1% |
| Beta vs S&P 500 | -0.28 | 0.27 |
| Max drawdown (3Y) | -58.3% | -20.1% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.55% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $39.2B |
| Sector / category | US Listed | Sector ETF |
XLE is an Equity Energy fund from State Street Investment Management: $39.2B under management, 22 holdings, a 0.08% expense ratio, a 2.55% trailing dividend yield.
Year-by-year returns
| Year | PED | XLE |
|---|---|---|
| 2022 | +3.8% | +64.3% |
| 2023 | -30.0% | -0.6% |
| 2024 | +1.0% | +5.6% |
| 2025 | -28.0% | +7.9% |
| 2026 | +19.6% | +41.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PED and XLE good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PED and XLE?
As of 2026-08-27, the correlation of weekly returns between PED and XLE is 0.50 over 3 years, 0.45 over 1 year and 0.55 over 5 years.
Is XLE a good diversifier for PED?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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/ped-vs-xle.json
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Related comparisons
Hubs: PED correlations · XLE correlations
