BKR vs NE: Correlation
How closely do Baker Hughes (BKR) and Noble Corporation plc A (NE) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKR and NE?
Over the past 3 years, BKR and NE moved with a correlation of 0.63, which is strong. The past 12 months show a weaker link (0.48) than the 3-year average (0.63). Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 821.0 %².
Among the 30 assets we track against BKR, NE ranks #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NE ahead by 31.2 points (+40.9% versus +72.1%).
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 NE: side by side
| BKR (Baker Hughes) | NE (Noble Corporation plc A) | |
|---|---|---|
| 1-year return | +40.9% | +72.1% |
| 5-year return | +205.5% | +134.0% |
| Volatility (ann.) | 32.2% | 40.7% |
| Beta vs S&P 500 | 0.61 | 0.96 |
| Max drawdown (3Y) | -28.0% | -63.2% |
| Market cap | $61.7B | $7.5B |
| P/E (trailing) | 19.9 | 48.2 |
| Dividend yield | 1.48% | 4.43% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | BKR | NE |
|---|---|---|
| 2022 | +26.0% | +52.0% |
| 2023 | +18.6% | +29.5% |
| 2024 | +23.1% | -31.6% |
| 2025 | +13.4% | -3.2% |
| 2026 | +37.9% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKR and NE good diversifiers for each other?
To a limited degree. At 0.63 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 NE?
As of 2026-08-27, the correlation of weekly returns between BKR and NE is 0.63 over 3 years, 0.48 over 1 year and 0.62 over 5 years.
Is NE a good diversifier for BKR?
To a limited degree. At 0.63 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 0.63 mean?
A reading of 0.63 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-ne.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkr-vs-ne/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BKR correlations · NE correlations
