HAL vs LBRT: Correlation
How closely do Halliburton (HAL) and Liberty Energy Inc. (LBRT) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and LBRT?
Across a 3-year window, the weekly returns of HAL and LBRT correlate at 0.64, strong. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.64). Stretching to 5 years gives 0.73, with an annualized covariance of 1360.1 %².
Among the 44 assets we track against HAL, LBRT ranks #26 by 3-year correlation. The trailing year gives LBRT the advantage: +62.8% versus +73.9%, a 11.1-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 LBRT: side by side
| HAL (Halliburton) | LBRT (Liberty Energy Inc.) | |
|---|---|---|
| 1-year return | +62.8% | +73.9% |
| 5-year return | +93.6% | +101.9% |
| Volatility (ann.) | 38.0% | 55.9% |
| Beta vs S&P 500 | 0.55 | 0.91 |
| Max drawdown (3Y) | -54.0% | -58.8% |
| Market cap | $29.6B | $3.1B |
| P/E (trailing) | 18.0 | 25.0 |
| Dividend yield | 1.97% | 1.89% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | LBRT |
|---|---|---|
| 2022 | +74.5% | +65.6% |
| 2023 | -6.5% | +14.8% |
| 2024 | -23.2% | +11.2% |
| 2025 | +7.0% | -4.9% |
| 2026 | +26.7% | +5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and LBRT good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HAL and LBRT?
The HAL/LBRT correlation stands at 0.64 on a 3-year window (1 year: 0.42, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is LBRT a good diversifier for HAL?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hal-vs-lbrt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hal-vs-lbrt/)
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Related comparisons
Hubs: HAL correlations · LBRT correlations
