BORR vs VAL: Correlation
How closely do Borr Drilling Limited (BORR) and Valaris Limited (VAL) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BORR and VAL?
Across a 3-year window, the weekly returns of BORR and VAL correlate at 0.59, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.59 over 3. Stretching to 5 years gives 0.60, with an annualized covariance of 1839.9 %².
By 3-year correlation, VAL places #5 of the 12 assets tracked against BORR. Their recent paths diverged sharply: over the last 12 months VAL outperformed by 18.4 percentage points (+54.9% for BORR against +73.3% for VAL).
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 VAL: side by side
| BORR (Borr Drilling Limited) | VAL (Valaris Limited) | |
|---|---|---|
| 1-year return | +54.9% | +73.3% |
| 5-year return | +246.5% | +200.2% |
| Volatility (ann.) | 58.6% | 52.9% |
| Beta vs S&P 500 | 1.05 | 0.77 |
| Max drawdown (3Y) | -77.1% | -63.8% |
| Market cap | $1.4B | $5.9B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BORR | VAL |
|---|---|---|
| 2022 | +141.3% | +87.8% |
| 2023 | +48.1% | +1.4% |
| 2024 | -43.3% | -35.5% |
| 2025 | +4.2% | +13.9% |
| 2026 | +12.7% | +69.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BORR and VAL good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BORR and VAL?
The BORR/VAL correlation stands at 0.59 on a 3-year window (1 year: 0.52, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is VAL a good diversifier for BORR?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 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-val.json
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Related comparisons
Hubs: BORR correlations · VAL correlations
