CLB vs SLB: Correlation
Measured on weekly returns over the past three years, Core Laboratories Inc. (CLB) and Schlumberger (SLB) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLB and SLB?
Across a 3-year window, the weekly returns of CLB and SLB correlate at 0.68, strong. The past 12 months show a weaker link (0.58) than the 3-year average (0.68). Stretching to 5 years gives 0.74, with an annualized covariance of 1260.8 %².
SLB is one of the assets that tracks CLB most closely: it ranks #2 out of the 15 assets we track against CLB. Correlation aside, the last 12 months split them widely, with SLB ahead by 46.5 points (+10.6% versus +57.1%). Note the risk asymmetry: CLB 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.
CLB vs SLB: side by side
| CLB (Core Laboratories Inc.) | SLB (Schlumberger) | |
|---|---|---|
| 1-year return | +10.6% | +57.1% |
| 5-year return | -55.8% | +117.1% |
| Volatility (ann.) | 53.1% | 35.1% |
| Beta vs S&P 500 | 0.91 | 0.57 |
| Max drawdown (3Y) | -62.5% | -46.6% |
| Market cap | $0.6B | $81.6B |
| P/E (trailing) | 23.2 | 26.2 |
| Dividend yield | 0.33% | 2.16% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | CLB | SLB |
|---|---|---|
| 2022 | -9.0% | +81.2% |
| 2023 | -12.7% | -0.8% |
| 2024 | -1.8% | -24.5% |
| 2025 | -7.1% | +3.3% |
| 2026 | -23.2% | +44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLB and SLB good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLB and SLB?
As of 2026-08-27, the correlation of weekly returns between CLB and SLB is 0.68 over 3 years, 0.58 over 1 year and 0.74 over 5 years.
Is SLB a good diversifier for CLB?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clb-vs-slb.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: CLB correlations · SLB correlations
