BKR vs HLX: Correlation
Baker Hughes (BKR) and Helix Energy Solutions Group, Inc. (HLX) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKR and HLX?
Over the past 3 years, BKR and HLX moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 882.7 %².
Within BKR's tracked universe of 30 assets, HLX comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HLX ahead by 16.2 points (+40.9% versus +57.1%).
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 HLX: side by side
| BKR (Baker Hughes) | HLX (Helix Energy Solutions Group, Inc.) | |
|---|---|---|
| 1-year return | +40.9% | +57.1% |
| 5-year return | +205.5% | +165.6% |
| Volatility (ann.) | 32.2% | 42.5% |
| Beta vs S&P 500 | 0.61 | 0.65 |
| Max drawdown (3Y) | -28.0% | -55.5% |
| Market cap | $61.7B | – |
| P/E (trailing) | 19.9 | 40.5 |
| Dividend yield | 1.48% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | BKR | HLX |
|---|---|---|
| 2022 | +26.0% | +136.5% |
| 2023 | +18.6% | +39.3% |
| 2024 | +23.1% | -9.3% |
| 2025 | +13.4% | -32.7% |
| 2026 | +37.9% | +61.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKR and HLX good diversifiers for each other?
To a limited degree. At 0.64 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 BKR and HLX?
As of 2026-08-27, the correlation of weekly returns between BKR and HLX is 0.64 over 3 years, 0.69 over 1 year and 0.60 over 5 years.
Is HLX a good diversifier for BKR?
To a limited degree. At 0.64 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 0.64 mean?
On the −1 to +1 scale, 0.64 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/bkr-vs-hlx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bkr-vs-hlx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BKR correlations · HLX correlations
