BKR vs HAL: Correlation
How closely do Baker Hughes (BKR) and Halliburton (HAL) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKR and HAL?
Across a 3-year window, the weekly returns of BKR and HAL correlate at 0.69, strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.69 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 851.3 %².
HAL is one of the assets that tracks BKR most closely: it ranks #3 out of the 30 assets we track against BKR. Correlation aside, the last 12 months split them widely, with HAL ahead by 21.9 points (+40.9% versus +62.8%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.62 and 0.86.
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.
BKR vs HAL: side by side
| BKR (Baker Hughes) | HAL (Halliburton) | |
|---|---|---|
| 1-year return | +40.9% | +62.8% |
| 5-year return | +205.5% | +93.6% |
| Volatility (ann.) | 32.2% | 38.0% |
| Beta vs S&P 500 | 0.61 | 0.55 |
| Max drawdown (3Y) | -28.0% | -54.0% |
| Market cap | $61.7B | $29.6B |
| P/E (trailing) | 19.9 | 18.0 |
| Dividend yield | 1.48% | 1.97% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | BKR | HAL |
|---|---|---|
| 2022 | +26.0% | +74.5% |
| 2023 | +18.6% | -6.5% |
| 2024 | +23.1% | -23.2% |
| 2025 | +13.4% | +7.0% |
| 2026 | +37.9% | +26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKR and HAL good diversifiers for each other?
Only partially. A correlation of 0.69 means BKR and HAL 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 BKR and HAL?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.61 over the last year and 0.75 over 5 years.
Is HAL a good diversifier for BKR?
Only partially. A correlation of 0.69 means BKR and HAL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
A reading of 0.69 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/bkr-vs-hal.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkr-vs-hal/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BKR correlations · HAL correlations
