COP vs HAL: Correlation
Measured on weekly returns over the past three years, ConocoPhillips (COP) and Halliburton (HAL) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COP and HAL?
On 3 years of weekly data the COP/HAL correlation comes out at 0.73, strong. Lately the two have drifted apart, with the 1-year correlation at 0.60 versus 0.73 over 3 years. The 5-year figure is 0.76, and annualized covariance runs at 807.8 %².
Among the 40 assets we track against COP, HAL ranks #17 by 3-year correlation. The last year tells two different stories: HAL led by 26.3 percentage points, +36.5% for COP against +62.8% for HAL. The rolling one-year correlation moved between 0.60 and 0.85 over the past three years, a moderate range.
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.
COP vs HAL: side by side
| COP (ConocoPhillips) | HAL (Halliburton) | |
|---|---|---|
| 1-year return | +36.5% | +62.8% |
| 5-year return | +175.2% | +93.6% |
| Volatility (ann.) | 29.1% | 38.0% |
| Beta vs S&P 500 | 0.25 | 0.55 |
| Max drawdown (3Y) | -36.3% | -54.0% |
| Market cap | $155.6B | $29.6B |
| P/E (trailing) | 17.3 | 18.0 |
| Dividend yield | 2.53% | 1.97% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | COP | HAL |
|---|---|---|
| 2022 | +71.7% | +74.5% |
| 2023 | +2.0% | -6.5% |
| 2024 | -12.2% | -23.2% |
| 2025 | -2.3% | +7.0% |
| 2026 | +41.4% | +26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COP and HAL good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between COP and HAL?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.60 over the last year and 0.76 over 5 years.
Is HAL a good diversifier for COP?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 mean?
A reading of 0.73 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/cop-vs-hal.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cop-vs-hal/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COP correlations · HAL correlations
