BG vs HP: Correlation
Measured on weekly returns over the past three years, Bunge Global (BG) and Helmerich & Payne, Inc. (HP) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BG and HP?
Over the past 3 years, BG and HP moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.41 over 3. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 559.6 %².
By 3-year correlation, HP places #5 of the 37 assets tracked against BG. Their recent paths diverged sharply: over the last 12 months HP outperformed by 85.6 percentage points (+35.2% for BG against +120.8% for HP).
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.
BG vs HP: side by side
| BG (Bunge Global) | HP (Helmerich & Payne, Inc.) | |
|---|---|---|
| 1-year return | +35.2% | +120.8% |
| 5-year return | +68.5% | +92.0% |
| Volatility (ann.) | 30.7% | 44.3% |
| Beta vs S&P 500 | 0.09 | 0.76 |
| Max drawdown (3Y) | -38.8% | -64.4% |
| Market cap | $21.4B | $4.2B |
| P/E (trailing) | 24.4 | – |
| Dividend yield | 2.51% | 2.42% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | BG | HP |
|---|---|---|
| 2022 | +9.3% | +115.2% |
| 2023 | +3.8% | -23.2% |
| 2024 | -20.7% | -7.8% |
| 2025 | +18.6% | -6.3% |
| 2026 | +27.5% | +50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BG and HP good diversifiers for each other?
Reasonably. At 0.41, BG and HP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BG and HP?
As of 2026-08-27, the correlation of weekly returns between BG and HP is 0.41 over 3 years, 0.41 over 1 year and 0.42 over 5 years.
Is HP a good diversifier for BG?
Reasonably. At 0.41, BG and HP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bg-vs-hp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bg-vs-hp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BG correlations · HP correlations
