HAL vs HP: Correlation
How closely do Halliburton (HAL) and Helmerich & Payne, Inc. (HP) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and HP?
Across a 3-year window, the weekly returns of HAL and HP correlate at 0.75, strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. Stretching to 5 years gives 0.77, with an annualized covariance of 1265.1 %².
Among the 44 assets we track against HAL, HP ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HP ahead by 58.0 points (+62.8% versus +120.8%).
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 HP: side by side
| HAL (Halliburton) | HP (Helmerich & Payne, Inc.) | |
|---|---|---|
| 1-year return | +62.8% | +120.8% |
| 5-year return | +93.6% | +92.0% |
| Volatility (ann.) | 38.0% | 44.3% |
| Beta vs S&P 500 | 0.55 | 0.76 |
| Max drawdown (3Y) | -54.0% | -64.4% |
| Market cap | $29.6B | $4.2B |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.97% | 2.42% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | HP |
|---|---|---|
| 2022 | +74.5% | +115.2% |
| 2023 | -6.5% | -23.2% |
| 2024 | -23.2% | -7.8% |
| 2025 | +7.0% | -6.3% |
| 2026 | +26.7% | +50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and HP good diversifiers for each other?
Only partially. A correlation of 0.75 means HAL and HP 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 HAL and HP?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.68 over the last year and 0.77 over 5 years.
Is HP a good diversifier for HAL?
Only partially. A correlation of 0.75 means HAL and HP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
A reading of 0.75 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-hp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hal-vs-hp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAL correlations · HP correlations
