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Permian Resources Corporation (PR) vs Spot Crude Oil Price: West Texas Intermediate
Correlation
of % moves
+64%
In sync
of periods
72%
History
monthsmonths · through 2026-04
44
These move in the same direction about 72% of the time
Their swing sizes loosely line up (~40% 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
Slipping looser
The recent pattern is looser than its long-run baseline — keep an eye on whether this sticks.
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)
72.1%
Headline metric
Movement correlation(i)
+64%
Based on % moves
95% CI
+41% → +79%
Likely range of correlation
Pipeline
Pipeline Summary
44 paired data points survived the monthly window.
Raw input
933
964
Normalized
933
964
Prepared
45
964
Aligned
44
44
Invalid removed
R²(i)
40.3%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
44
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.
43 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
+11%
13 periods · Return correlation when both series fell
Diverging
-44%
12 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
921
A: 1 / B: 920
Series A
Permian Resources Corporation (PR)
PR
Stock · 933 raw → 45 prepared
Series B
Spot Crude Oil Price: West Texas Intermediate
WTISPLC
FRED · 964 raw → 964 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
6
Estimated crossover points between normalized spreads.
Slope
0.5997
Linear regression slope.
Intercept
-0.0103
Linear regression intercept.
Saved 3 weeks ago · ID: fred-wtisplc_stock-pr_monthly_5y