BG vs SLB: Correlation
How closely do Bunge Global (BG) and Schlumberger (SLB) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BG and SLB?
Over the past 3 years, BG and SLB moved with a correlation of 0.44, which is moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.44 over 3. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 471.0 %².
SLB is one of the assets that tracks BG most closely: it ranks #3 out of the 37 assets we track against BG. Correlation aside, the last 12 months split them widely, with SLB ahead by 21.9 points (+35.2% versus +57.1%). On a rolling one-year basis the correlation drifted between 0.19 and 0.50, a moderate band.
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 SLB: side by side
| BG (Bunge Global) | SLB (Schlumberger) | |
|---|---|---|
| 1-year return | +35.2% | +57.1% |
| 5-year return | +68.5% | +117.1% |
| Volatility (ann.) | 30.7% | 35.1% |
| Beta vs S&P 500 | 0.09 | 0.57 |
| Max drawdown (3Y) | -38.8% | -46.6% |
| Market cap | $21.4B | $81.6B |
| P/E (trailing) | 24.4 | 26.2 |
| Dividend yield | 2.51% | 2.16% |
| Sector / category | Consumer Staples | Energy |
Year-by-year returns
| Year | BG | SLB |
|---|---|---|
| 2022 | +9.3% | +81.2% |
| 2023 | +3.8% | -0.8% |
| 2024 | -20.7% | -24.5% |
| 2025 | +18.6% | +3.3% |
| 2026 | +27.5% | +44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BG and SLB good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BG and SLB?
The BG/SLB correlation stands at 0.44 on a 3-year window (1 year: 0.47, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is SLB a good diversifier for BG?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BG correlations · SLB correlations
