FTI vs NOV: Correlation
How closely do TechnipFMC plc (FTI) and NOV Inc. (NOV) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTI and NOV?
Across a 3-year window, the weekly returns of FTI and NOV correlate at 0.73, strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.73 over 3. Stretching to 5 years gives 0.74, with an annualized covariance of 948.1 %².
NOV is one of the assets that tracks FTI most closely: it ranks #1 out of the 14 assets we track against FTI. Their recent paths diverged sharply: over the last 12 months FTI outperformed by 47.2 percentage points (+109.4% for FTI 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.
FTI vs NOV: side by side
| FTI (TechnipFMC plc) | NOV (NOV Inc.) | |
|---|---|---|
| 1-year return | +109.4% | +62.2% |
| 5-year return | +1078.9% | +71.8% |
| Volatility (ann.) | 36.4% | 35.6% |
| Beta vs S&P 500 | 0.70 | 0.61 |
| Max drawdown (3Y) | -28.9% | -47.2% |
| Market cap | $29.9B | $7.4B |
| P/E (trailing) | 26.5 | 74.1 |
| Dividend yield | 0.26% | 1.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTI | NOV |
|---|---|---|
| 2022 | +105.9% | +55.7% |
| 2023 | +66.1% | -1.8% |
| 2024 | +44.8% | -26.8% |
| 2025 | +54.9% | +11.3% |
| 2026 | +71.6% | +34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTI and NOV 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 FTI and NOV?
The FTI/NOV correlation stands at 0.73 on a 3-year window (1 year: 0.75, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is NOV a good diversifier for FTI?
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?
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.
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Related comparisons
Hubs: FTI correlations · NOV correlations
