APA vs BKR: Correlation
Measured on weekly returns over the past three years, APA Corporation (APA) and Baker Hughes (BKR) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and BKR?
Across a 3-year window, the weekly returns of APA and BKR correlate at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 761.4 %².
Within APA's tracked universe of 43 assets, BKR comes in at #26 by 3-year correlation. The last year tells two different stories: APA led by 53.2 percentage points, +94.1% for APA against +40.9% for BKR. Across three years, the rolling one-year figure varied moderately, from 0.41 to 0.75.
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.
APA vs BKR: side by side
| APA (APA Corporation) | BKR (Baker Hughes) | |
|---|---|---|
| 1-year return | +94.1% | +40.9% |
| 5-year return | +164.2% | +205.5% |
| Volatility (ann.) | 41.8% | 32.2% |
| Beta vs S&P 500 | 0.38 | 0.61 |
| Max drawdown (3Y) | -67.4% | -28.0% |
| Market cap | $14.8B | $61.7B |
| P/E (trailing) | 8.7 | 19.9 |
| Dividend yield | 2.43% | 1.48% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | APA | BKR |
|---|---|---|
| 2022 | +76.4% | +26.0% |
| 2023 | -21.2% | +18.6% |
| 2024 | -33.4% | +23.1% |
| 2025 | +11.5% | +13.4% |
| 2026 | +77.3% | +37.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and BKR good diversifiers for each other?
Only partially. A correlation of 0.57 means APA and BKR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between APA and BKR?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.48 over the last year and 0.59 over 5 years.
Is BKR a good diversifier for APA?
Only partially. A correlation of 0.57 means APA and BKR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apa-vs-bkr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apa-vs-bkr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APA correlations · BKR correlations
