HAL vs PTEN: Correlation
Measured on weekly returns over the past three years, Halliburton (HAL) and Patterson-UTI Energy, Inc. (PTEN) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and PTEN?
On 3 years of weekly data the HAL/PTEN correlation comes out at 0.79, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. The 5-year figure is 0.80, and annualized covariance runs at 1451.6 %².
Within HAL's tracked universe of 44 assets, PTEN comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PTEN ahead by 62.6 points (+62.8% versus +125.4%).
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 PTEN: side by side
| HAL (Halliburton) | PTEN (Patterson-UTI Energy, Inc.) | |
|---|---|---|
| 1-year return | +62.8% | +125.4% |
| 5-year return | +93.6% | +84.8% |
| Volatility (ann.) | 38.0% | 48.6% |
| Beta vs S&P 500 | 0.55 | 0.60 |
| Max drawdown (3Y) | -54.0% | -64.6% |
| Market cap | $29.6B | $4.7B |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.97% | 3.06% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | PTEN |
|---|---|---|
| 2022 | +74.5% | +101.7% |
| 2023 | -6.5% | -34.2% |
| 2024 | -23.2% | -21.0% |
| 2025 | +7.0% | -22.1% |
| 2026 | +26.7% | +104.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and PTEN good diversifiers for each other?
To a limited degree. At 0.79 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 PTEN?
As of 2026-08-27, the correlation of weekly returns between HAL and PTEN is 0.79 over 3 years, 0.72 over 1 year and 0.80 over 5 years.
Is PTEN a good diversifier for HAL?
To a limited degree. At 0.79 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 0.79 mean?
A reading of 0.79 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-pten.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hal-vs-pten/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAL correlations · PTEN correlations
