PR vs TPL: Correlation
How closely do Permian Resources Corporation (PR) and Texas Pacific Land Corporation (TPL) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PR and TPL?
Across a 3-year window, the weekly returns of PR and TPL correlate at 0.49, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.49 over 3 years. Stretching to 5 years gives 0.47, with an annualized covariance of 865.4 %².
Among the 33 assets we track against PR, TPL ranks #28 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PR outperformed by 47.5 percentage points (+70.3% for PR against +22.8% for TPL).
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.
PR vs TPL: side by side
| PR (Permian Resources Corporation) | TPL (Texas Pacific Land Corporation) | |
|---|---|---|
| 1-year return | +70.3% | +22.8% |
| 5-year return | +430.6% | +149.6% |
| Volatility (ann.) | 35.4% | 50.0% |
| Beta vs S&P 500 | 0.39 | 0.62 |
| Max drawdown (3Y) | -39.9% | -52.2% |
| Market cap | $19.4B | $25.5B |
| P/E (trailing) | 14.7 | 47.2 |
| Dividend yield | 2.73% | 0.61% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | PR | TPL |
|---|---|---|
| 2022 | +57.9% | +91.3% |
| 2023 | +49.4% | -32.4% |
| 2024 | +10.7% | +115.3% |
| 2025 | +1.9% | -21.6% |
| 2026 | +68.0% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PR and TPL good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PR and TPL?
As of 2026-08-27, the correlation of weekly returns between PR and TPL is 0.49 over 3 years, 0.38 over 1 year and 0.47 over 5 years.
Is TPL a good diversifier for PR?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pr-vs-tpl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pr-vs-tpl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PR correlations · TPL correlations
