BORR vs SDRL: Correlation
How closely do Borr Drilling Limited (BORR) and Seadrill Limited (SDRL) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BORR and SDRL?
On 3 years of weekly data the BORR/SDRL correlation comes out at 0.62, strong. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 1416.5 %².
Few assets follow BORR as closely as SDRL, which ranks #2 of 12 tracked partners. Neither side won the trailing year by much: +54.9% against +51.3%. Note the risk asymmetry: BORR runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SDRL: side by side
| BORR (Borr Drilling Limited) | SDRL (Seadrill Limited) | |
|---|---|---|
| 1-year return | +54.9% | +51.3% |
| 5-year return | +246.5% | n/a |
| Volatility (ann.) | 58.6% | 38.9% |
| Beta vs S&P 500 | 1.05 | 0.91 |
| Max drawdown (3Y) | -77.1% | -66.1% |
| Market cap | $1.4B | $3.0B |
| P/E (trailing) | – | 1612.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BORR | SDRL |
|---|---|---|
| 2022 | +141.3% | – |
| 2023 | +48.1% | +44.9% |
| 2024 | -43.3% | -17.7% |
| 2025 | +4.2% | -11.1% |
| 2026 | +12.7% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BORR and SDRL good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BORR and SDRL?
As of 2026-08-27, the correlation of weekly returns between BORR and SDRL is 0.62 over 3 years, 0.58 over 1 year and 0.61 over 5 years.
Is SDRL a good diversifier for BORR?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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/borr-vs-sdrl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/borr-vs-sdrl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BORR correlations · SDRL correlations
