TBN vs ZNTL: Correlation
Tamboran Resources Corporation (TBN) and Zentalis Pharmaceuticals, Inc. (ZNTL) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TBN and ZNTL?
Over the past 3 years, TBN and ZNTL moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.20). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1921.9 %².
Among the 29 assets we track against TBN, ZNTL ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ZNTL ahead by 26.5 points (+86.7% versus +113.2%). Note the risk asymmetry: ZNTL runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ZNTL: side by side
| TBN (Tamboran Resources Corporation) | ZNTL (Zentalis Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +86.7% | +113.2% |
| 5-year return | n/a | -94.1% |
| Volatility (ann.) | 52.6% | 159.7% |
| Beta vs S&P 500 | -0.08 | 2.82 |
| Max drawdown (3Y) | -38.6% | -96.2% |
| Market cap | $1.3B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TBN | ZNTL |
|---|---|---|
| 2022 | – | -76.0% |
| 2023 | – | -24.8% |
| 2024 | – | -80.0% |
| 2025 | +29.7% | -55.4% |
| 2026 | +38.6% | +187.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TBN and ZNTL good diversifiers for each other?
Yes. With a correlation of -0.20, TBN and ZNTL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TBN and ZNTL?
As of 2026-08-27, the correlation of weekly returns between TBN and ZNTL is -0.20 over 3 years, -0.36 over 1 year and n/a over 5 years.
Is ZNTL a good diversifier for TBN?
Yes. With a correlation of -0.20, TBN and ZNTL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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
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Related comparisons
Hubs: TBN correlations · ZNTL correlations
