HAL vs HLX: Correlation
Halliburton (HAL) and Helix Energy Solutions Group, Inc. (HLX) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and HLX?
Over the past 3 years, HAL and HLX moved with a correlation of 0.74, which is strong. Recent behaviour matches the longer record: 0.82 over 1 year against 0.74 over 3. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 1203.8 %².
Within HAL's tracked universe of 44 assets, HLX comes in at #9 by 3-year correlation. The trailing year gives HAL the advantage: +62.8% versus +57.1%, a 5.7-point spread.
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.
HAL vs HLX: side by side
| HAL (Halliburton) | HLX (Helix Energy Solutions Group, Inc.) | |
|---|---|---|
| 1-year return | +62.8% | +57.1% |
| 5-year return | +93.6% | +165.6% |
| Volatility (ann.) | 38.0% | 42.5% |
| Beta vs S&P 500 | 0.55 | 0.65 |
| Max drawdown (3Y) | -54.0% | -55.5% |
| Market cap | $29.6B | – |
| P/E (trailing) | 18.0 | 40.5 |
| Dividend yield | 1.97% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | HLX |
|---|---|---|
| 2022 | +74.5% | +136.5% |
| 2023 | -6.5% | +39.3% |
| 2024 | -23.2% | -9.3% |
| 2025 | +7.0% | -32.7% |
| 2026 | +26.7% | +61.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and HLX good diversifiers for each other?
To a limited degree. At 0.74 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 HAL and HLX?
The HAL/HLX correlation stands at 0.74 on a 3-year window (1 year: 0.82, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is HLX a good diversifier for HAL?
To a limited degree. At 0.74 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 0.74 mean?
A reading of 0.74 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/hal-vs-hlx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hal-vs-hlx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HAL correlations · HLX correlations
