TPL vs VNOM: Correlation
Measured on weekly returns over the past three years, Texas Pacific Land Corporation (TPL) and Viper Energy, Inc. (VNOM) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TPL and VNOM?
Over the past 3 years, TPL and VNOM moved with a correlation of 0.49, which is moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 774.7 %².
By 3-year correlation, VNOM places #11 of the 29 assets tracked against TPL. Twelve-month performance is nearly a tie, at +22.8% for TPL and +20.5% for VNOM. One caveat on sizing: TPL is 1.6 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.
TPL vs VNOM: side by side
| TPL (Texas Pacific Land Corporation) | VNOM (Viper Energy, Inc.) | |
|---|---|---|
| 1-year return | +22.8% | +20.5% |
| 5-year return | +149.6% | +230.6% |
| Volatility (ann.) | 50.0% | 31.8% |
| Beta vs S&P 500 | 0.62 | 0.33 |
| Max drawdown (3Y) | -52.2% | -34.5% |
| Market cap | $25.5B | $23.4B |
| P/E (trailing) | 47.2 | – |
| Dividend yield | 0.61% | 5.54% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | TPL | VNOM |
|---|---|---|
| 2022 | +91.3% | +61.7% |
| 2023 | -32.4% | +4.8% |
| 2024 | +115.3% | +65.5% |
| 2025 | -21.6% | -16.6% |
| 2026 | +29.1% | +20.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TPL and VNOM good diversifiers for each other?
Reasonably. At 0.49, TPL and VNOM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between TPL and VNOM?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.47 over the last year and 0.50 over 5 years.
Is VNOM a good diversifier for TPL?
Reasonably. At 0.49, TPL and VNOM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/tpl-vs-vnom.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tpl-vs-vnom/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TPL correlations · VNOM correlations
