BKR vs SLB: Correlation
Baker Hughes (BKR) and Schlumberger (SLB) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKR and SLB?
Across a 3-year window, the weekly returns of BKR and SLB correlate at 0.72, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.72 over 3. Stretching to 5 years gives 0.73, with an annualized covariance of 817.2 %².
SLB is one of the assets that tracks BKR most closely: it ranks #1 out of the 30 assets we track against BKR. Their recent paths diverged sharply: over the last 12 months SLB outperformed by 16.2 percentage points (+40.9% for BKR against +57.1% for SLB). The link looks structural: the rolling one-year correlation barely moved, holding between 0.66 and 0.87.
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 SLB: side by side
| BKR (Baker Hughes) | SLB (Schlumberger) | |
|---|---|---|
| 1-year return | +40.9% | +57.1% |
| 5-year return | +205.5% | +117.1% |
| Volatility (ann.) | 32.2% | 35.1% |
| Beta vs S&P 500 | 0.61 | 0.57 |
| Max drawdown (3Y) | -28.0% | -46.6% |
| Market cap | $61.7B | $81.6B |
| P/E (trailing) | 19.9 | 26.2 |
| Dividend yield | 1.48% | 2.16% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | BKR | SLB |
|---|---|---|
| 2022 | +26.0% | +81.2% |
| 2023 | +18.6% | -0.8% |
| 2024 | +23.1% | -24.5% |
| 2025 | +13.4% | +3.3% |
| 2026 | +37.9% | +44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKR and SLB good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BKR and SLB?
The BKR/SLB correlation stands at 0.72 on a 3-year window (1 year: 0.66, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is SLB a good diversifier for BKR?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 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-slb.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: BKR correlations · SLB correlations
