PTEN vs VLO: Correlation
How closely do Patterson-UTI Energy, Inc. (PTEN) and Valero Energy (VLO) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PTEN and VLO?
Over the past 3 years, PTEN and VLO moved with a correlation of 0.63, which is strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.63 over 3. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 1067.9 %².
Within PTEN's tracked universe of 23 assets, VLO comes in at #13 by 3-year correlation. Over the last 12 months VLO came out ahead by 9.4 percentage points (+125.4% against +134.8%).
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.
PTEN vs VLO: side by side
| PTEN (Patterson-UTI Energy, Inc.) | VLO (Valero Energy) | |
|---|---|---|
| 1-year return | +125.4% | +134.8% |
| 5-year return | +84.8% | +512.9% |
| Volatility (ann.) | 48.6% | 34.8% |
| Beta vs S&P 500 | 0.60 | 0.55 |
| Max drawdown (3Y) | -64.6% | -41.2% |
| Market cap | $4.7B | $99.8B |
| P/E (trailing) | – | 14.5 |
| Dividend yield | 3.06% | 1.34% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | PTEN | VLO |
|---|---|---|
| 2022 | +101.7% | +75.0% |
| 2023 | -34.2% | +5.9% |
| 2024 | -21.0% | -3.0% |
| 2025 | -22.1% | +37.0% |
| 2026 | +104.9% | +116.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PTEN and VLO good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PTEN and VLO?
As of 2026-08-27, the correlation of weekly returns between PTEN and VLO is 0.63 over 3 years, 0.61 over 1 year and 0.59 over 5 years.
Is VLO a good diversifier for PTEN?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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.
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Related comparisons
Hubs: PTEN correlations · VLO correlations
