DVN vs HAL: Correlation
Devon Energy (DVN) 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 DVN and HAL?
Across a 3-year window, the weekly returns of DVN and HAL correlate at 0.71, strong. The link has loosened recently: the 1-year correlation (0.58) runs below the 3-year figure (0.71). Stretching to 5 years gives 0.74, with an annualized covariance of 920.7 %².
By 3-year correlation, HAL places #21 of the 42 assets tracked against DVN. Their recent paths diverged sharply: over the last 12 months HAL outperformed by 26.9 percentage points (+35.9% for DVN against +62.8% for HAL). The rolling one-year correlation moved between 0.56 and 0.82 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.
DVN vs HAL: side by side
| DVN (Devon Energy) | HAL (Halliburton) | |
|---|---|---|
| 1-year return | +35.9% | +62.8% |
| 5-year return | +102.7% | +93.6% |
| Volatility (ann.) | 34.3% | 38.0% |
| Beta vs S&P 500 | 0.16 | 0.55 |
| Max drawdown (3Y) | -49.2% | -54.0% |
| Market cap | $51.8B | $29.6B |
| P/E (trailing) | 10.2 | 18.0 |
| Dividend yield | 2.22% | 1.97% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | DVN | HAL |
|---|---|---|
| 2022 | +50.9% | +74.5% |
| 2023 | -21.8% | -6.5% |
| 2024 | -25.2% | -23.2% |
| 2025 | +15.0% | +7.0% |
| 2026 | +30.2% | +26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and HAL good diversifiers for each other?
To a limited degree. At 0.71 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 DVN and HAL?
The DVN/HAL correlation stands at 0.71 on a 3-year window (1 year: 0.58, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is HAL a good diversifier for DVN?
To a limited degree. At 0.71 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 0.71 mean?
A reading of 0.71 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/dvn-vs-hal.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dvn-vs-hal/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DVN correlations · HAL correlations
