TPB vs TPET: Correlation
Turning Point Brands, Inc. (TPB) and Trio Petroleum Corp. (TPET) show a negative relationship: their 3-year correlation of weekly returns is -0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TPB and TPET?
On 3 years of weekly data the TPB/TPET correlation comes out at -0.45, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.63) than the 3-year average (-0.45). The 5-year figure is n/a, and annualized covariance runs at -5289.8 %².
Out of 15 assets tracked against TPB, TPET lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months TPB outperformed by 66.7 percentage points (-14.2% for TPB against -80.9% for TPET). One caveat on sizing: TPET is 5.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
TPB vs TPET: side by side
| TPB (Turning Point Brands, Inc.) | TPET (Trio Petroleum Corp.) | |
|---|---|---|
| 1-year return | -14.2% | -80.9% |
| 5-year return | +74.4% | n/a |
| Volatility (ann.) | 44.7% | 264.2% |
| Beta vs S&P 500 | 0.76 | -2.89 |
| Max drawdown (3Y) | -50.6% | -98.5% |
| Market cap | $1.7B | – |
| P/E (trailing) | 38.3 | – |
| Dividend yield | 0.35% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TPB | TPET |
|---|---|---|
| 2022 | -42.2% | – |
| 2023 | +23.1% | – |
| 2024 | +130.1% | -80.5% |
| 2025 | +81.0% | -34.4% |
| 2026 | -22.1% | -72.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TPB and TPET good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between TPB and TPET?
The TPB/TPET correlation stands at -0.45 on a 3-year window (1 year: -0.63, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TPET a good diversifier for TPB?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 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/tpb-vs-tpet.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tpb-vs-tpet/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TPB correlations · TPET correlations
