BKR vs WHD: Correlation
Measured on weekly returns over the past three years, Baker Hughes (BKR) and Cactus, Inc. (WHD) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKR and WHD?
Over the past 3 years, BKR and WHD moved with a correlation of 0.65, which is strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 866.6 %².
Among the 30 assets we track against BKR, WHD ranks #7 by 3-year correlation. The last year tells two different stories: WHD led by 25.2 percentage points, +40.9% for BKR against +66.1% for WHD.
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 WHD: side by side
| BKR (Baker Hughes) | WHD (Cactus, Inc.) | |
|---|---|---|
| 1-year return | +40.9% | +66.1% |
| 5-year return | +205.5% | +89.5% |
| Volatility (ann.) | 32.2% | 41.2% |
| Beta vs S&P 500 | 0.61 | 1.11 |
| Max drawdown (3Y) | -28.0% | -51.4% |
| Market cap | $61.7B | $4.8B |
| P/E (trailing) | 19.9 | 55.7 |
| Dividend yield | 1.48% | 0.84% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | BKR | WHD |
|---|---|---|
| 2022 | +26.0% | +33.0% |
| 2023 | +18.6% | -8.7% |
| 2024 | +23.1% | +29.7% |
| 2025 | +13.4% | -20.8% |
| 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 WHD good diversifiers for each other?
To a limited degree. At 0.65 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 WHD?
The BKR/WHD correlation stands at 0.65 on a 3-year window (1 year: 0.59, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is WHD a good diversifier for BKR?
To a limited degree. At 0.65 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 0.65 mean?
On the −1 to +1 scale, 0.65 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.
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Related comparisons
Hubs: BKR correlations · WHD correlations
