GLNG vs HLX: Correlation
How closely do Golar LNG Limited (GLNG) and Helix Energy Solutions Group, Inc. (HLX) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLNG and HLX?
Across a 3-year window, the weekly returns of GLNG and HLX correlate at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 744.8 %².
By 3-year correlation, HLX places #5 of the 12 assets tracked against GLNG. Their recent paths diverged sharply: over the last 12 months HLX outperformed by 39.4 percentage points (+17.7% for GLNG against +57.1% for HLX).
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.
GLNG vs HLX: side by side
| GLNG (Golar LNG Limited) | HLX (Helix Energy Solutions Group, Inc.) | |
|---|---|---|
| 1-year return | +17.7% | +57.1% |
| 5-year return | +415.5% | +165.6% |
| Volatility (ann.) | 37.5% | 42.5% |
| Beta vs S&P 500 | 0.88 | 0.65 |
| Max drawdown (3Y) | -29.4% | -55.5% |
| Market cap | $5.3B | – |
| P/E (trailing) | 35.3 | 40.5 |
| Dividend yield | 1.95% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLNG | HLX |
|---|---|---|
| 2022 | +83.9% | +136.5% |
| 2023 | +4.4% | +39.3% |
| 2024 | +90.8% | -9.3% |
| 2025 | -9.7% | -32.7% |
| 2026 | +40.5% | +61.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLNG and HLX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GLNG and HLX?
The GLNG/HLX correlation stands at 0.47 on a 3-year window (1 year: 0.41, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is HLX a good diversifier for GLNG?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/glng-vs-hlx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/glng-vs-hlx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GLNG correlations · HLX correlations
