Texas Pacific Land Corporation (TPL) — Stock Correlations & Overview
Over the past year, TPL has moved most closely with NVIR, LB, RSPG. Explore the stocks most correlated and inversely correlated with TPL below, along with its price, financials, and company profile.
Stocks correlated with TPL
Correlation of daily returns. Higher positive values move with TPL; negative values move opposite it. Informational only, not investment advice.
Most correlated with TPL
| Symbol | Company | Correlation |
|---|---|---|
| NVIR | Horizon Kinetics Energy and Remediation ETF | 0.57 |
| LB | LandBridge Company LLCOIL ROYALTY TRADERS | 0.54 |
| RSPG | Invesco S&P 500 Equal Weight Energy ETF | 0.49 |
| INFL | Horizon Kinetics Inflation Beneficiaries ETF | 0.48 |
| FXN | First Trust Energy AlphaDEX Fund | 0.47 |
Most inversely correlated with TPL
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.44 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.42 |
| DUG | ProShares UltraShort Energy | -0.42 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.41 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.39 |
Frequently asked questions about TPL correlations
- Which stocks are most correlated with TPL?
- Based on one year of daily returns, the stocks most correlated with Texas Pacific Land Corporation (TPL) are NVIR (0.57), LB (0.54) and RSPG (0.49). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with TPL?
- Over the past year, the stocks most inversely correlated with Texas Pacific Land Corporation (TPL) are DRIP (-0.44), ERY (-0.42) and DUG (-0.42). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these TPL correlations calculated?
- We compute the correlation of daily returns between TPL and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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