CLB vs NOV: Correlation
How closely do Core Laboratories Inc. (CLB) and NOV Inc. (NOV) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLB and NOV?
On 3 years of weekly data the CLB/NOV correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.67 over 3. The 5-year figure is 0.73, and annualized covariance runs at 1263.3 %².
In CLB's tracked universe of 15 assets, NOV sits right near the top at #3. The last year tells two different stories: NOV led by 51.6 percentage points, +10.6% for CLB against +62.2% for NOV.
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 NOV: side by side
| CLB (Core Laboratories Inc.) | NOV (NOV Inc.) | |
|---|---|---|
| 1-year return | +10.6% | +62.2% |
| 5-year return | -55.8% | +71.8% |
| Volatility (ann.) | 53.1% | 35.6% |
| Beta vs S&P 500 | 0.91 | 0.61 |
| Max drawdown (3Y) | -62.5% | -47.2% |
| Market cap | $0.6B | $7.4B |
| P/E (trailing) | 23.2 | 74.1 |
| Dividend yield | 0.33% | 1.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLB | NOV |
|---|---|---|
| 2022 | -9.0% | +55.7% |
| 2023 | -12.7% | -1.8% |
| 2024 | -1.8% | -26.8% |
| 2025 | -7.1% | +11.3% |
| 2026 | -23.2% | +34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLB and NOV good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CLB and NOV?
The CLB/NOV correlation stands at 0.67 on a 3-year window (1 year: 0.62, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is NOV a good diversifier for CLB?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 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-nov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/clb-vs-nov/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLB correlations · NOV correlations
