HAL vs PDS: Correlation
How closely do Halliburton (HAL) and Precision Drilling Corporation (PDS) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and PDS?
Across a 3-year window, the weekly returns of HAL and PDS correlate at 0.70, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Stretching to 5 years gives 0.73, with an annualized covariance of 1004.1 %².
Within HAL's tracked universe of 44 assets, PDS comes in at #20 by 3-year correlation. Neither side won the trailing year by much: +62.8% against +58.3%.
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 PDS: side by side
| HAL (Halliburton) | PDS (Precision Drilling Corporation) | |
|---|---|---|
| 1-year return | +62.8% | +58.3% |
| 5-year return | +93.6% | +182.9% |
| Volatility (ann.) | 38.0% | 37.7% |
| Beta vs S&P 500 | 0.55 | 0.49 |
| Max drawdown (3Y) | -54.0% | -50.5% |
| Market cap | $29.6B | $1.2B |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.97% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | PDS |
|---|---|---|
| 2022 | +74.5% | +116.5% |
| 2023 | -6.5% | -29.2% |
| 2024 | -23.2% | +12.5% |
| 2025 | +7.0% | +17.7% |
| 2026 | +26.7% | +25.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and PDS good diversifiers for each other?
Only partially. A correlation of 0.70 means HAL and PDS 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 PDS?
The HAL/PDS correlation stands at 0.70 on a 3-year window (1 year: 0.69, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is PDS a good diversifier for HAL?
Only partially. A correlation of 0.70 means HAL and PDS 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-pds.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hal-vs-pds/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAL correlations · PDS correlations
