HAL vs RNGR: Correlation
How closely do Halliburton (HAL) and Ranger Energy Services, Inc. (RNGR) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and RNGR?
Over the past 3 years, HAL and RNGR moved with a correlation of 0.67, which is strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.67 over 3. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 948.9 %².
By 3-year correlation, RNGR places #22 of the 44 assets tracked against HAL. Their recent paths diverged sharply: over the last 12 months HAL outperformed by 43.8 percentage points (+62.8% for HAL against +19.0% for RNGR).
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 RNGR: side by side
| HAL (Halliburton) | RNGR (Ranger Energy Services, Inc.) | |
|---|---|---|
| 1-year return | +62.8% | +19.0% |
| 5-year return | +93.6% | +129.0% |
| Volatility (ann.) | 38.0% | 37.1% |
| Beta vs S&P 500 | 0.55 | 0.49 |
| Max drawdown (3Y) | -54.0% | -40.5% |
| Market cap | $29.6B | $0.4B |
| P/E (trailing) | 18.0 | 26.4 |
| Dividend yield | 1.97% | 1.52% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | RNGR |
|---|---|---|
| 2022 | +74.5% | +7.2% |
| 2023 | -6.5% | -6.3% |
| 2024 | -23.2% | +53.9% |
| 2025 | +7.0% | -7.9% |
| 2026 | +26.7% | +18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and RNGR good diversifiers for each other?
To a limited degree. At 0.67 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 RNGR?
The HAL/RNGR correlation stands at 0.67 on a 3-year window (1 year: 0.73, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is RNGR a good diversifier for HAL?
To a limited degree. At 0.67 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 0.67 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-rngr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hal-vs-rngr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HAL correlations · RNGR correlations
