BORR vs TDW: Correlation
Measured on weekly returns over the past three years, Borr Drilling Limited (BORR) and Tidewater Inc. (TDW) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BORR and TDW?
Over the past 3 years, BORR and TDW moved with a correlation of 0.61, which is strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.61 over 3. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 1651.8 %².
TDW is one of the assets that tracks BORR most closely: it ranks #3 out of the 12 assets we track against BORR. Their 12-month results are close: +54.9% for BORR against +53.2% for TDW.
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 TDW: side by side
| BORR (Borr Drilling Limited) | TDW (Tidewater Inc.) | |
|---|---|---|
| 1-year return | +54.9% | +53.2% |
| 5-year return | +246.5% | +724.8% |
| Volatility (ann.) | 58.6% | 46.4% |
| Beta vs S&P 500 | 1.05 | 0.92 |
| Max drawdown (3Y) | -77.1% | -70.3% |
| Market cap | $1.4B | $4.6B |
| P/E (trailing) | – | 18.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BORR | TDW |
|---|---|---|
| 2022 | +141.3% | +244.1% |
| 2023 | +48.1% | +95.7% |
| 2024 | -43.3% | -24.1% |
| 2025 | +4.2% | -7.7% |
| 2026 | +12.7% | +84.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BORR and TDW good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BORR and TDW?
As of 2026-08-27, the correlation of weekly returns between BORR and TDW is 0.61 over 3 years, 0.61 over 1 year and 0.54 over 5 years.
Is TDW a good diversifier for BORR?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
A reading of 0.61 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BORR correlations · TDW correlations
