BLNE vs SDRL: Correlation
Measured on weekly returns over the past three years, Beeline Holdings, Inc. (BLNE) and Seadrill Limited (SDRL) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLNE and SDRL?
On 3 years of weekly data the BLNE/SDRL correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.15 over 1 year against -0.17 over 3. The 5-year figure is -0.10, and annualized covariance runs at -919.7 %².
Among the 19 assets we track against BLNE, SDRL ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SDRL outperformed by 87.5 percentage points (-36.2% for BLNE against +51.3% for SDRL). One caveat on sizing: BLNE is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BLNE vs SDRL: side by side
| BLNE (Beeline Holdings, Inc.) | SDRL (Seadrill Limited) | |
|---|---|---|
| 1-year return | -36.2% | +51.3% |
| 5-year return | -99.8% | n/a |
| Volatility (ann.) | 136.3% | 38.9% |
| Beta vs S&P 500 | 0.59 | 0.91 |
| Max drawdown (3Y) | -96.7% | -66.1% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | 1612.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLNE | SDRL |
|---|---|---|
| 2022 | -87.2% | – |
| 2023 | -71.8% | +44.9% |
| 2024 | -25.3% | -17.7% |
| 2025 | -82.1% | -11.1% |
| 2026 | -42.8% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLNE and SDRL good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BLNE and SDRL?
As of 2026-08-27, the correlation of weekly returns between BLNE and SDRL is -0.17 over 3 years, -0.15 over 1 year and -0.10 over 5 years.
Is SDRL a good diversifier for BLNE?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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/blne-vs-sdrl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/blne-vs-sdrl/)
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Related comparisons
Hubs: BLNE correlations · SDRL correlations
