BKR vs INVX: Correlation
Baker Hughes (BKR) and Innovex International, Inc. (INVX) 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 INVX?
Over the past 3 years, BKR and INVX moved with a correlation of 0.64, which is strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 878.6 %².
Among the 30 assets we track against BKR, INVX ranks #10 by 3-year correlation. The last year tells two different stories: INVX led by 38.4 percentage points, +40.9% for BKR against +79.3% for INVX.
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 INVX: side by side
| BKR (Baker Hughes) | INVX (Innovex International, Inc.) | |
|---|---|---|
| 1-year return | +40.9% | +79.3% |
| 5-year return | +205.5% | +21.9% |
| Volatility (ann.) | 32.2% | 42.3% |
| Beta vs S&P 500 | 0.61 | 0.83 |
| Max drawdown (3Y) | -28.0% | -58.9% |
| Market cap | $61.7B | $2.1B |
| P/E (trailing) | 19.9 | 31.7 |
| Dividend yield | 1.48% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | BKR | INVX |
|---|---|---|
| 2022 | +26.0% | +38.1% |
| 2023 | +18.6% | -14.4% |
| 2024 | +23.1% | -40.0% |
| 2025 | +13.4% | +56.5% |
| 2026 | +37.9% | +36.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKR and INVX good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BKR and INVX?
The BKR/INVX correlation stands at 0.64 on a 3-year window (1 year: 0.62, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is INVX a good diversifier for BKR?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bkr-vs-invx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bkr-vs-invx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BKR correlations · INVX correlations
