HAL vs IEF: Correlation
Measured on weekly returns over the past three years, Halliburton (HAL) and iShares 7-10 Year Treasury Bond ETF (IEF) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and IEF?
On 3 years of weekly data the HAL/IEF correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.30) runs below the 3-year figure (-0.18). The 5-year figure is -0.16, and annualized covariance runs at -44.6 %².
Among the 44 assets we track against HAL, IEF ranks #39 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HAL ahead by 61.9 points (+62.8% versus +0.9%). The rolling one-year correlation moved between -0.38 and -0.01 over the past three years, a moderate range. Risk is not evenly split, since HAL carries 5.8 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.
HAL vs IEF: side by side
| HAL (Halliburton) | IEF (iShares 7-10 Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | +62.8% | +0.9% |
| 5-year return | +93.6% | -7.9% |
| Volatility (ann.) | 38.0% | 6.5% |
| Beta vs S&P 500 | 0.55 | 0.04 |
| Max drawdown (3Y) | -54.0% | -6.9% |
| Market cap | $29.6B | – |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.97% | 3.96% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $47.2B |
| Sector / category | Energy | ETF · Bonds |
On the fund side, IEF sits in the Long Government category at iShares, with $47.2B under management, a 0.15% expense ratio, a 3.96% trailing dividend yield.
Year-by-year returns
| Year | HAL | IEF |
|---|---|---|
| 2022 | +74.5% | -15.2% |
| 2023 | -6.5% | +3.6% |
| 2024 | -23.2% | -0.6% |
| 2025 | +7.0% | +8.0% |
| 2026 | +26.7% | -0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and IEF good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between HAL and IEF?
As of 2026-08-27, the correlation of weekly returns between HAL and IEF is -0.18 over 3 years, -0.30 over 1 year and -0.16 over 5 years.
Is IEF a good diversifier for HAL?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hal-vs-ief.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hal-vs-ief/)
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Related comparisons
Hubs: HAL correlations · IEF correlations
