RCG vs TPL: Correlation
Measured on weekly returns over the past three years, RENN Fund, Inc (RCG) and Texas Pacific Land Corporation (TPL) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RCG and TPL?
On 3 years of weekly data the RCG/TPL correlation comes out at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.45). The 5-year figure is 0.37, and annualized covariance runs at 578.0 %².
TPL is one of the assets that tracks RCG most closely: it ranks #1 out of the 14 assets we track against RCG. On 12-month performance TPL holds a 11.7-point edge, +11.1% against +22.8%. Risk is not evenly split, since TPL carries 1.9 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.
RCG vs TPL: side by side
| RCG (RENN Fund, Inc) | TPL (Texas Pacific Land Corporation) | |
|---|---|---|
| 1-year return | +11.1% | +22.8% |
| 5-year return | +24.1% | +149.6% |
| Volatility (ann.) | 25.8% | 50.0% |
| Beta vs S&P 500 | 0.09 | 0.62 |
| Max drawdown (3Y) | -20.0% | -52.2% |
| Market cap | – | $25.5B |
| P/E (trailing) | 26.5 | 47.2 |
| Dividend yield | 0.71% | 0.61% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | RCG | TPL |
|---|---|---|
| 2022 | -31.5% | +91.3% |
| 2023 | -4.7% | -32.4% |
| 2024 | +31.6% | +115.3% |
| 2025 | +16.2% | -21.6% |
| 2026 | +13.6% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCG and TPL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RCG and TPL?
As of 2026-08-27, the correlation of weekly returns between RCG and TPL is 0.45 over 3 years, 0.19 over 1 year and 0.37 over 5 years.
Is TPL a good diversifier for RCG?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RCG correlations · TPL correlations
