BKR vs HP: Correlation
Measured on weekly returns over the past three years, Baker Hughes (BKR) and Helmerich & Payne, Inc. (HP) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKR and HP?
On 3 years of weekly data the BKR/HP correlation comes out at 0.61, strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. The 5-year figure is 0.63, and annualized covariance runs at 875.8 %².
Among the 30 assets we track against BKR, HP ranks #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HP outperformed by 79.9 percentage points (+40.9% for BKR 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.
BKR vs HP: side by side
| BKR (Baker Hughes) | HP (Helmerich & Payne, Inc.) | |
|---|---|---|
| 1-year return | +40.9% | +120.8% |
| 5-year return | +205.5% | +92.0% |
| Volatility (ann.) | 32.2% | 44.3% |
| Beta vs S&P 500 | 0.61 | 0.76 |
| Max drawdown (3Y) | -28.0% | -64.4% |
| Market cap | $61.7B | $4.2B |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.48% | 2.42% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | BKR | HP |
|---|---|---|
| 2022 | +26.0% | +115.2% |
| 2023 | +18.6% | -23.2% |
| 2024 | +23.1% | -7.8% |
| 2025 | +13.4% | -6.3% |
| 2026 | +37.9% | +50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKR and HP good diversifiers for each other?
To a limited degree. At 0.61 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 HP?
The BKR/HP correlation stands at 0.61 on a 3-year window (1 year: 0.59, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is HP a good diversifier for BKR?
To a limited degree. At 0.61 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 0.61 mean?
A reading of 0.61 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-hp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkr-vs-hp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BKR correlations · HP correlations
