HAL vs OIS: Correlation
Measured on weekly returns over the past three years, Halliburton (HAL) and Oil States International, Inc. (OIS) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and OIS?
Across a 3-year window, the weekly returns of HAL and OIS correlate at 0.63, strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.63 over 3. Stretching to 5 years gives 0.71, with an annualized covariance of 1317.9 %².
Among the 44 assets we track against HAL, OIS ranks #27 by 3-year correlation. Over the last 12 months HAL came out ahead by 6.0 percentage points (+62.8% against +56.8%).
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 OIS: side by side
| HAL (Halliburton) | OIS (Oil States International, Inc.) | |
|---|---|---|
| 1-year return | +62.8% | +56.8% |
| 5-year return | +93.6% | +48.7% |
| Volatility (ann.) | 38.0% | 55.2% |
| Beta vs S&P 500 | 0.55 | 0.78 |
| Max drawdown (3Y) | -54.0% | -62.9% |
| Market cap | $29.6B | $0.5B |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.97% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | OIS |
|---|---|---|
| 2022 | +74.5% | +50.1% |
| 2023 | -6.5% | -9.0% |
| 2024 | -23.2% | -25.5% |
| 2025 | +7.0% | +33.8% |
| 2026 | +26.7% | +28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and OIS good diversifiers for each other?
Only partially. A correlation of 0.63 means HAL and OIS 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 OIS?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.61 over the last year and 0.71 over 5 years.
Is OIS a good diversifier for HAL?
Only partially. A correlation of 0.63 means HAL and OIS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
A reading of 0.63 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-ois.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hal-vs-ois/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HAL correlations · OIS correlations
