HAL vs KLXE: Correlation
Measured on weekly returns over the past three years, Halliburton (HAL) and KLX Energy Services Holdings, Inc. (KLXE) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and KLXE?
On 3 years of weekly data the HAL/KLXE correlation comes out at 0.58, moderate. The past 12 months show a weaker link (0.41) than the 3-year average (0.58). The 5-year figure is 0.55, and annualized covariance runs at 1857.5 %².
Among the 44 assets we track against HAL, KLXE ranks #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HAL ahead by 85.1 points (+62.8% versus -22.3%). Risk is not evenly split, since KLXE carries 2.2 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 KLXE: side by side
| HAL (Halliburton) | KLXE (KLX Energy Services Holdings, Inc.) | |
|---|---|---|
| 1-year return | +62.8% | -22.3% |
| 5-year return | +93.6% | -76.5% |
| Volatility (ann.) | 38.0% | 84.9% |
| Beta vs S&P 500 | 0.55 | 0.89 |
| Max drawdown (3Y) | -54.0% | -88.0% |
| Market cap | $29.6B | – |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.97% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | KLXE |
|---|---|---|
| 2022 | +74.5% | +458.4% |
| 2023 | -6.5% | -35.0% |
| 2024 | -23.2% | -55.8% |
| 2025 | +7.0% | -62.0% |
| 2026 | +26.7% | -20.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and KLXE good diversifiers for each other?
To a limited degree. At 0.58 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 KLXE?
As of 2026-08-27, the correlation of weekly returns between HAL and KLXE is 0.58 over 3 years, 0.41 over 1 year and 0.55 over 5 years.
Is KLXE a good diversifier for HAL?
To a limited degree. At 0.58 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 0.58 mean?
A reading of 0.58 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-klxe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hal-vs-klxe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HAL correlations · KLXE correlations
