TPL vs TSAT: Correlation
Measured on weekly returns over the past three years, Texas Pacific Land Corporation (TPL) and Telesat Corporation - Class A (TSAT) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TPL and TSAT?
On 3 years of weekly data the TPL/TSAT correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.36 versus -0.21 over 3 years. The 5-year figure is -0.04, and annualized covariance runs at -819.0 %².
Among the 29 assets we track against TPL, TSAT sits near the bottom by co-movement, at rank #29. Their recent paths diverged sharply: over the last 12 months TSAT outperformed by 104.3 percentage points (+22.8% for TPL against +127.1% for TSAT). Risk is not evenly split, since TSAT carries 1.5 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.
TPL vs TSAT: side by side
| TPL (Texas Pacific Land Corporation) | TSAT (Telesat Corporation - Class A) | |
|---|---|---|
| 1-year return | +22.8% | +127.1% |
| 5-year return | +149.6% | +10.3% |
| Volatility (ann.) | 50.0% | 76.7% |
| Beta vs S&P 500 | 0.62 | 1.43 |
| Max drawdown (3Y) | -52.2% | -64.5% |
| Market cap | $25.5B | $2.3B |
| P/E (trailing) | 47.2 | – |
| Dividend yield | 0.61% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | TPL | TSAT |
|---|---|---|
| 2022 | +91.3% | -73.8% |
| 2023 | -32.4% | +39.1% |
| 2024 | +115.3% | +57.6% |
| 2025 | -21.6% | +77.0% |
| 2026 | +29.1% | +57.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TPL and TSAT good diversifiers for each other?
Yes. With a correlation of -0.21, TPL and TSAT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TPL and TSAT?
The TPL/TSAT correlation stands at -0.21 on a 3-year window (1 year: -0.36, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is TSAT a good diversifier for TPL?
Yes. With a correlation of -0.21, TPL and TSAT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 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.
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Related comparisons
Hubs: TPL correlations · TSAT correlations
