FTI vs OIS: Correlation
Measured on weekly returns over the past three years, TechnipFMC plc (FTI) and Oil States International, Inc. (OIS) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTI and OIS?
On 3 years of weekly data the FTI/OIS correlation comes out at 0.62, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 1251.7 %².
Among the 14 assets we track against FTI, OIS ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FTI outperformed by 52.6 percentage points (+109.4% for FTI against +56.8% for OIS). Risk is not evenly split, since OIS carries 1.5 times the volatility of the other side.
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 OIS: side by side
| FTI (TechnipFMC plc) | OIS (Oil States International, Inc.) | |
|---|---|---|
| 1-year return | +109.4% | +56.8% |
| 5-year return | +1078.9% | +48.7% |
| Volatility (ann.) | 36.4% | 55.2% |
| Beta vs S&P 500 | 0.70 | 0.78 |
| Max drawdown (3Y) | -28.9% | -62.9% |
| Market cap | $29.9B | $0.5B |
| P/E (trailing) | 26.5 | – |
| Dividend yield | 0.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTI | OIS |
|---|---|---|
| 2022 | +105.9% | +50.1% |
| 2023 | +66.1% | -9.0% |
| 2024 | +44.8% | -25.5% |
| 2025 | +54.9% | +33.8% |
| 2026 | +71.6% | +28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTI and OIS good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FTI and OIS?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.61 over the last year and 0.64 over 5 years.
Is OIS a good diversifier for FTI?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FTI correlations · OIS correlations
