CLB vs HAL: Correlation
Core Laboratories Inc. (CLB) and Halliburton (HAL) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLB and HAL?
Across a 3-year window, the weekly returns of CLB and HAL correlate at 0.71, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 1434.3 %².
Few assets follow CLB as closely as HAL, which ranks #1 of 15 tracked partners. Their recent paths diverged sharply: over the last 12 months HAL outperformed by 52.2 percentage points (+10.6% for CLB against +62.8% for HAL).
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.
CLB vs HAL: side by side
| CLB (Core Laboratories Inc.) | HAL (Halliburton) | |
|---|---|---|
| 1-year return | +10.6% | +62.8% |
| 5-year return | -55.8% | +93.6% |
| Volatility (ann.) | 53.1% | 38.0% |
| Beta vs S&P 500 | 0.91 | 0.55 |
| Max drawdown (3Y) | -62.5% | -54.0% |
| Market cap | $0.6B | $29.6B |
| P/E (trailing) | 23.2 | 18.0 |
| Dividend yield | 0.33% | 1.97% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | CLB | HAL |
|---|---|---|
| 2022 | -9.0% | +74.5% |
| 2023 | -12.7% | -6.5% |
| 2024 | -1.8% | -23.2% |
| 2025 | -7.1% | +7.0% |
| 2026 | -23.2% | +26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLB and HAL good diversifiers for each other?
Only partially. A correlation of 0.71 means CLB and HAL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CLB and HAL?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.67 over the last year and 0.76 over 5 years.
Is HAL a good diversifier for CLB?
Only partially. A correlation of 0.71 means CLB and HAL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 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/clb-vs-hal.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clb-vs-hal/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLB correlations · HAL correlations
