SND vs TBN: Correlation
Smart Sand, Inc. (SND) and Tamboran Resources Corporation (TBN) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SND and TBN?
Over the past 3 years, SND and TBN moved with a correlation of 0.39, which is moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.39 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1267.2 %².
By 3-year correlation, TBN places #6 of the 12 assets tracked against SND. Their recent paths diverged sharply: over the last 12 months SND outperformed by 82.8 percentage points (+169.5% for SND against +86.7% for TBN).
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.
SND vs TBN: side by side
| SND (Smart Sand, Inc.) | TBN (Tamboran Resources Corporation) | |
|---|---|---|
| 1-year return | +169.5% | +86.7% |
| 5-year return | +141.8% | n/a |
| Volatility (ann.) | 57.5% | 52.6% |
| Beta vs S&P 500 | 0.34 | -0.08 |
| Max drawdown (3Y) | -33.3% | -38.6% |
| Market cap | $0.2B | $1.3B |
| P/E (trailing) | 19.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SND | TBN |
|---|---|---|
| 2022 | +0.6% | – |
| 2023 | +7.8% | – |
| 2024 | +22.1% | – |
| 2025 | +89.8% | +29.7% |
| 2026 | +31.3% | +38.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SND and TBN good diversifiers for each other?
Reasonably. At 0.39, SND and TBN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SND and TBN?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.40 over the last year and n/a over 5 years.
Is TBN a good diversifier for SND?
Reasonably. At 0.39, SND and TBN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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/snd-vs-tbn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/snd-vs-tbn/)
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Related comparisons
Hubs: SND correlations · TBN correlations
