BORR vs RIG: Correlation
Measured on weekly returns over the past three years, Borr Drilling Limited (BORR) and Transocean Ltd (Switzerland) (RIG) 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 BORR and RIG?
Over the past 3 years, BORR and RIG moved with a correlation of 0.65, which is strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 1965.7 %².
Few assets follow BORR as closely as RIG, which ranks #1 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with RIG ahead by 26.2 points (+54.9% versus +81.1%).
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.
BORR vs RIG: side by side
| BORR (Borr Drilling Limited) | RIG (Transocean Ltd (Switzerland)) | |
|---|---|---|
| 1-year return | +54.9% | +81.1% |
| 5-year return | +246.5% | +61.7% |
| Volatility (ann.) | 58.6% | 51.9% |
| Beta vs S&P 500 | 1.05 | 0.93 |
| Max drawdown (3Y) | -77.1% | -75.5% |
| Market cap | $1.4B | $6.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BORR | RIG |
|---|---|---|
| 2022 | +141.3% | +65.2% |
| 2023 | +48.1% | +39.3% |
| 2024 | -43.3% | -40.9% |
| 2025 | +4.2% | +10.1% |
| 2026 | +12.7% | +39.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BORR and RIG good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BORR and RIG?
As of 2026-08-27, the correlation of weekly returns between BORR and RIG is 0.65 over 3 years, 0.64 over 1 year and 0.64 over 5 years.
Is RIG a good diversifier for BORR?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/borr-vs-rig.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/borr-vs-rig/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BORR correlations · RIG correlations
