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Permian Resources Corporation (PR) vs Spot Crude Oil Price: West Texas Intermediate
Correlation
of % moves
+64%
In sync
of periods
70%
History
monthsmonths · through 2026-07
47
These move in the same direction about 70% of the time
When one swings, the other often swings by a similar amount (~41% of the pattern is shared).
Strong enough to use as a signal — check the stability and regime notes below before relying on it.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Decouples in drawdowns
The relationship weakens when both prices are falling — don't count on this pair as a hedge under stress.
Mostly stable
The relationship drifts a little but stays in the same neighbourhood.
Advanced
Statistics
In sync(i)
70%
Headline metric
Movement correlation(i)
+64%
Based on % moves
95% CI
+43% → +78%
Likely range of correlation
Pipeline
Pipeline Summary
47 paired data points survived the monthly window.
Raw input
1,005
967
Normalized
1,005
967
Prepared
49
967
Aligned
47
47
Invalid removed
R²(i)
41%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points(i)
46
Thin
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -18 to 18 months.
Selected shift
No shift
Correlation at this shift
+64%
No shift — both series at their actual dates.
46 overlapping points at this shift
Baseline
+64%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+64%
A non-zero peak suggests one series lines up better when shifted against the other.
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Do They Crash Together?
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+50%
18 periods · Return correlation when both series rose
Both Falling
+27%
14 periods · Return correlation when both series fell
Diverging
-50%
14 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
922
A: 2 / B: 920
Series A
Permian Resources Corporation (PR)
PR
Stock · 1,005 raw → 49 prepared
Series B
Spot Crude Oil Price: West Texas Intermediate
WTISPLC
FRED · 967 raw → 967 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
7
Estimated crossover points between normalized spreads.
Slope
0.6338
Linear regression slope.
Intercept
-0.0147
Linear regression intercept.
Saved 4 months ago · ID: fred-wtisplc_stock-pr_monthly_5y