TBN vs UCAR: Correlation
How closely do Tamboran Resources Corporation (TBN) and U Power Limited - Class A (UCAR) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TBN and UCAR?
On 3 years of weekly data the TBN/UCAR correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -3573.1 %².
UCAR is close to the least connected end of TBN's tracked universe, ranking #28 of 29. Correlation aside, the last 12 months split them widely, with TBN ahead by 183.6 points (+86.7% versus -96.9%). Risk is not evenly split, since UCAR carries 3.6 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.
TBN vs UCAR: side by side
| TBN (Tamboran Resources Corporation) | UCAR (U Power Limited - Class A) | |
|---|---|---|
| 1-year return | +86.7% | -96.9% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 52.6% | 186.9% |
| Beta vs S&P 500 | -0.08 | 2.54 |
| Max drawdown (3Y) | -38.6% | -100.0% |
| Market cap | $1.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TBN | UCAR |
|---|---|---|
| 2024 | – | -64.0% |
| 2025 | +29.7% | -77.1% |
| 2026 | +38.6% | -95.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TBN and UCAR good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between TBN and UCAR?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.43 over the last year and n/a over 5 years.
Is UCAR a good diversifier for TBN?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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/tbn-vs-ucar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tbn-vs-ucar/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TBN correlations · UCAR correlations
