BORR vs NBR: Correlation
Borr Drilling Limited (BORR) and Nabors Industries Ltd. (NBR) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BORR and NBR?
On 3 years of weekly data the BORR/NBR correlation comes out at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 2267.4 %².
By 3-year correlation, NBR places #4 of the 12 assets tracked against BORR. The last year tells two different stories: NBR led by 98.4 percentage points, +54.9% for BORR against +153.3% for NBR.
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.
BORR vs NBR: side by side
| BORR (Borr Drilling Limited) | NBR (Nabors Industries Ltd.) | |
|---|---|---|
| 1-year return | +54.9% | +153.3% |
| 5-year return | +246.5% | +10.3% |
| Volatility (ann.) | 58.6% | 65.2% |
| Beta vs S&P 500 | 1.05 | 0.88 |
| Max drawdown (3Y) | -77.1% | -82.2% |
| Market cap | $1.4B | $1.4B |
| P/E (trailing) | – | 5.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BORR | NBR |
|---|---|---|
| 2022 | +141.3% | +91.0% |
| 2023 | +48.1% | -47.3% |
| 2024 | -43.3% | -30.0% |
| 2025 | +4.2% | -5.0% |
| 2026 | +12.7% | +68.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BORR and NBR good diversifiers for each other?
To a limited degree. At 0.59 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 BORR and NBR?
As of 2026-08-27, the correlation of weekly returns between BORR and NBR is 0.59 over 3 years, 0.65 over 1 year and 0.53 over 5 years.
Is NBR a good diversifier for BORR?
To a limited degree. At 0.59 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 0.59 mean?
A reading of 0.59 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/borr-vs-nbr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/borr-vs-nbr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BORR correlations · NBR correlations
