PFSI vs TRX: Correlation
PennyMac Financial Services, Inc. (PFSI) and TRX Gold Corporation (TRX) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFSI and TRX?
Across a 3-year window, the weekly returns of PFSI and TRX correlate at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Stretching to 5 years gives -0.08, with an annualized covariance of -461.2 %².
Among the 14 assets we track against PFSI, TRX sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with TRX ahead by 270.2 points (-31.3% versus +238.9%). Note the risk asymmetry: TRX runs 1.8 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.
PFSI vs TRX: side by side
| PFSI (PennyMac Financial Services, Inc.) | TRX (TRX Gold Corporation) | |
|---|---|---|
| 1-year return | -31.3% | +238.9% |
| 5-year return | +17.5% | +197.6% |
| Volatility (ann.) | 34.9% | 61.2% |
| Beta vs S&P 500 | 0.57 | 0.56 |
| Max drawdown (3Y) | -53.8% | -68.3% |
| Market cap | $3.8B | – |
| P/E (trailing) | 10.0 | – |
| Dividend yield | 1.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFSI | TRX |
|---|---|---|
| 2022 | -17.6% | -15.0% |
| 2023 | +57.8% | +11.8% |
| 2024 | +16.8% | -18.4% |
| 2025 | +30.5% | +196.8% |
| 2026 | -43.6% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFSI and TRX good diversifiers for each other?
Yes. With a correlation of -0.22, PFSI and TRX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PFSI and TRX?
The PFSI/TRX correlation stands at -0.22 on a 3-year window (1 year: -0.25, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is TRX a good diversifier for PFSI?
Yes. With a correlation of -0.22, PFSI and TRX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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.
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Related comparisons
Hubs: PFSI correlations · TRX correlations
