APA vs RIG: Correlation
APA Corporation (APA) and Transocean Ltd (Switzerland) (RIG) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and RIG?
On 3 years of weekly data the APA/RIG correlation comes out at 0.67, strong. The past 12 months show a weaker link (0.56) than the 3-year average (0.67). The 5-year figure is 0.67, and annualized covariance runs at 1455.6 %².
By 3-year correlation, RIG places #20 of the 43 assets tracked against APA. The trailing year gives APA the advantage: +94.1% versus +81.1%, a 13.0-point spread.
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 RIG: side by side
| APA (APA Corporation) | RIG (Transocean Ltd (Switzerland)) | |
|---|---|---|
| 1-year return | +94.1% | +81.1% |
| 5-year return | +164.2% | +61.7% |
| Volatility (ann.) | 41.8% | 51.9% |
| Beta vs S&P 500 | 0.38 | 0.93 |
| Max drawdown (3Y) | -67.4% | -75.5% |
| Market cap | $14.8B | $6.4B |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 2.43% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | APA | RIG |
|---|---|---|
| 2022 | +76.4% | +65.2% |
| 2023 | -21.2% | +39.3% |
| 2024 | -33.4% | -40.9% |
| 2025 | +11.5% | +10.1% |
| 2026 | +77.3% | +39.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and RIG good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APA and RIG?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.56 over the last year and 0.67 over 5 years.
Is RIG a good diversifier for APA?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
A reading of 0.67 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-rig.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apa-vs-rig/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APA correlations · RIG correlations
