APA vs HAL: Correlation
APA Corporation (APA) and Halliburton (HAL) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and HAL?
Over the past 3 years, APA and HAL moved with a correlation of 0.75, which is strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 1187.4 %².
Among the 43 assets we track against APA, HAL ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with APA ahead by 31.3 points (+94.1% versus +62.8%). The rolling one-year correlation stayed in a tight band between 0.66 and 0.87 over the past three years, which points to a structural rather than episodic relationship.
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 HAL: side by side
| APA (APA Corporation) | HAL (Halliburton) | |
|---|---|---|
| 1-year return | +94.1% | +62.8% |
| 5-year return | +164.2% | +93.6% |
| Volatility (ann.) | 41.8% | 38.0% |
| Beta vs S&P 500 | 0.38 | 0.55 |
| Max drawdown (3Y) | -67.4% | -54.0% |
| Market cap | $14.8B | $29.6B |
| P/E (trailing) | 8.7 | 18.0 |
| Dividend yield | 2.43% | 1.97% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | APA | HAL |
|---|---|---|
| 2022 | +76.4% | +74.5% |
| 2023 | -21.2% | -6.5% |
| 2024 | -33.4% | -23.2% |
| 2025 | +11.5% | +7.0% |
| 2026 | +77.3% | +26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and HAL good diversifiers for each other?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between APA and HAL?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.68 over the last year and 0.78 over 5 years.
Is HAL a good diversifier for APA?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.75 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apa-vs-hal.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apa-vs-hal/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APA correlations · HAL correlations
