HAL vs INVX: Correlation
Halliburton (HAL) and Innovex International, Inc. (INVX) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and INVX?
Over the past 3 years, HAL and INVX moved with a correlation of 0.70, which is strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 1120.3 %².
Within HAL's tracked universe of 44 assets, INVX comes in at #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months INVX outperformed by 16.5 percentage points (+62.8% for HAL against +79.3% for INVX).
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 INVX: side by side
| HAL (Halliburton) | INVX (Innovex International, Inc.) | |
|---|---|---|
| 1-year return | +62.8% | +79.3% |
| 5-year return | +93.6% | +21.9% |
| Volatility (ann.) | 38.0% | 42.3% |
| Beta vs S&P 500 | 0.55 | 0.83 |
| Max drawdown (3Y) | -54.0% | -58.9% |
| Market cap | $29.6B | $2.1B |
| P/E (trailing) | 18.0 | 31.7 |
| Dividend yield | 1.97% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | INVX |
|---|---|---|
| 2022 | +74.5% | +38.1% |
| 2023 | -6.5% | -14.4% |
| 2024 | -23.2% | -40.0% |
| 2025 | +7.0% | +56.5% |
| 2026 | +26.7% | +36.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and INVX good diversifiers for each other?
Only partially. A correlation of 0.70 means HAL and INVX 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 INVX?
As of 2026-08-27, the correlation of weekly returns between HAL and INVX is 0.70 over 3 years, 0.63 over 1 year and 0.72 over 5 years.
Is INVX a good diversifier for HAL?
Only partially. A correlation of 0.70 means HAL and INVX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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-invx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hal-vs-invx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAL correlations · INVX correlations
