HAL vs PEO: Correlation
Measured on weekly returns over the past three years, Halliburton (HAL) and Adams Natural Resources Fund, Inc. (PEO) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and PEO?
Across a 3-year window, the weekly returns of HAL and PEO correlate at 0.76, strong. Lately the two have drifted apart, with the 1-year correlation at 0.63 versus 0.76 over 3 years. Stretching to 5 years gives 0.82, with an annualized covariance of 585.8 %².
By 3-year correlation, PEO places #6 of the 44 assets tracked against HAL. Their recent paths diverged sharply: over the last 12 months HAL outperformed by 21.2 percentage points (+62.8% for HAL against +41.6% for PEO). One caveat on sizing: HAL is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PEO: side by side
| HAL (Halliburton) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +62.8% | +41.6% |
| 5-year return | +93.6% | +179.3% |
| Volatility (ann.) | 38.0% | 20.2% |
| Beta vs S&P 500 | 0.55 | 0.30 |
| Max drawdown (3Y) | -54.0% | -18.9% |
| Market cap | $29.6B | $0.8B |
| P/E (trailing) | 18.0 | 4.8 |
| Dividend yield | 1.97% | 7.09% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | PEO |
|---|---|---|
| 2022 | +74.5% | +41.8% |
| 2023 | -6.5% | +0.9% |
| 2024 | -23.2% | +13.6% |
| 2025 | +7.0% | +10.0% |
| 2026 | +26.7% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and PEO good diversifiers for each other?
To a limited degree. At 0.76 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 PEO?
The HAL/PEO correlation stands at 0.76 on a 3-year window (1 year: 0.63, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is PEO a good diversifier for HAL?
To a limited degree. At 0.76 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 0.76 mean?
On the −1 to +1 scale, 0.76 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-peo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hal-vs-peo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HAL correlations · PEO correlations
