PNRG vs XLE: Correlation
PrimeEnergy Resources Corporation (PNRG) and Energy Select Sector SPDR Fund (XLE) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNRG and XLE?
Over the past 3 years, PNRG and XLE moved with a correlation of 0.43, which is moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 545.4 %².
Within PNRG's tracked universe of 13 assets, XLE comes in at #5 by 3-year correlation. On 12-month performance XLE holds a 6.8-point edge, +37.2% against +44.0%. One caveat on sizing: PNRG is 2.4 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.
PNRG vs XLE: side by side
| PNRG (PrimeEnergy Resources Corporation) | XLE (Energy Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +37.2% | +44.0% |
| 5-year return | +312.9% | +206.7% |
| Volatility (ann.) | 54.8% | 23.1% |
| Beta vs S&P 500 | 0.69 | 0.27 |
| Max drawdown (3Y) | -44.6% | -20.1% |
| Market cap | $0.3B | – |
| P/E (trailing) | 20.2 | – |
| 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 | PNRG | XLE |
|---|---|---|
| 2022 | +23.9% | +64.3% |
| 2023 | +22.4% | -0.6% |
| 2024 | +106.5% | +5.6% |
| 2025 | -22.1% | +7.9% |
| 2026 | +23.1% | +41.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNRG and XLE good diversifiers for each other?
Reasonably. At 0.43, PNRG and XLE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PNRG and XLE?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.50 over the last year and 0.37 over 5 years.
Is XLE a good diversifier for PNRG?
Reasonably. At 0.43, PNRG and XLE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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/pnrg-vs-xle.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pnrg-vs-xle/)
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Related comparisons
Hubs: PNRG correlations · XLE correlations
