FET vs SLB: Correlation
How closely do Forum Energy Technologies, Inc. (FET) and Schlumberger (SLB) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FET and SLB?
On 3 years of weekly data the FET/SLB correlation comes out at 0.65, strong. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. The 5-year figure is 0.59, and annualized covariance runs at 1109.7 %².
Few assets follow FET as closely as SLB, which ranks #2 of 12 tracked partners. The last year tells two different stories: FET led by 155.6 percentage points, +212.7% for FET against +57.1% for SLB.
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.
FET vs SLB: side by side
| FET (Forum Energy Technologies, Inc.) | SLB (Schlumberger) | |
|---|---|---|
| 1-year return | +212.7% | +57.1% |
| 5-year return | +307.0% | +117.1% |
| Volatility (ann.) | 49.1% | 35.1% |
| Beta vs S&P 500 | 0.80 | 0.57 |
| Max drawdown (3Y) | -47.1% | -46.6% |
| Market cap | $0.9B | $81.6B |
| P/E (trailing) | – | 26.2 |
| Dividend yield | 0.00% | 2.16% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | FET | SLB |
|---|---|---|
| 2022 | +83.8% | +81.2% |
| 2023 | -24.8% | -0.8% |
| 2024 | -30.1% | -24.5% |
| 2025 | +138.5% | +3.3% |
| 2026 | +115.9% | +44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FET and SLB good diversifiers for each other?
Only partially. A correlation of 0.65 means FET and SLB 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 FET and SLB?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.56 over the last year and 0.59 over 5 years.
Is SLB a good diversifier for FET?
Only partially. A correlation of 0.65 means FET and SLB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fet-vs-slb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fet-vs-slb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FET correlations · SLB correlations
