PAA drawdown: 60.9% below the all-time high
Plains All American Pipeline L.P. Common Units representing Limited Partner Interests (PAA) is 60.9% below its all-time high, set Sep 8, 2014 (as of market close, Aug 17, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1998).
- Below all-time high
- −60.9%
- 39.1% of ATH
- All-time high
- $60.76
- Sep 8, 2014
- Time below the high
- 11.9 yrs
- since Sep 8, 2014
- Worst-ever drawdown
- −94.6%
- Mar 18, 2020
- Longest underwater
- 11.9 yrs
- between all-time highs
- Today's level first reached
- Aug 4, 2005
- 21.0 yrs ago
- Last time this deep
- never before
- no prior −60.9% episode
% of all-time high since 1998#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of PAA, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Sep 8, 2014 | Mar 18, 2020 | −94.6% | 5.5 yrs | not yet | 11.9 yrs+ |
| Jul 12, 2007 | Nov 21, 2008 | −60.0% | 16 mo | Jan 31, 2011 | 3.6 yrs |
| Nov 9, 1999 | Nov 29, 1999 | −48.6% | 20 days | Jan 25, 2001 | 15 mo |
| Sep 4, 2001 | Jul 23, 2002 | −27.6% | 11 mo | May 22, 2003 | 1.7 yrs |
| Nov 25, 1998 | Feb 18, 1999 | −20.2% | 3 mo | Nov 9, 1999 | 11 mo |
| May 13, 2013 | Dec 17, 2013 | −18.8% | 7 mo | Jun 27, 2014 | 13 mo |
| Sep 2, 2005 | Dec 29, 2005 | −18.0% | 4 mo | May 31, 2006 | 9 mo |
| May 17, 2001 | Jun 29, 2001 | −16.9% | 43 days | Aug 20, 2001 | 3 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1998: how far PAA stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: PAA is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is PAA from its all-time high?
- PAA is currently 60.9% below its all-time high, set Sep 8, 2014 (as of market close, Aug 17, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest PAA drawdown ever?
- The deepest decline on record in our data (since 1998) took the stock 94.6% below its prior high, bottoming Mar 18, 2020. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1998 (split-adjusted). "All-time" means since our price data begins — PAA may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.