HAL vs SND: Correlation
Measured on weekly returns over the past three years, Halliburton (HAL) and Smart Sand, Inc. (SND) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and SND?
On 3 years of weekly data the HAL/SND correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. The 5-year figure is 0.50, and annualized covariance runs at 1161.6 %².
By 3-year correlation, SND places #31 of the 44 assets tracked against HAL. Correlation aside, the last 12 months split them widely, with SND ahead by 106.7 points (+62.8% versus +169.5%). One caveat on sizing: SND is 1.5 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 SND: side by side
| HAL (Halliburton) | SND (Smart Sand, Inc.) | |
|---|---|---|
| 1-year return | +62.8% | +169.5% |
| 5-year return | +93.6% | +141.8% |
| Volatility (ann.) | 38.0% | 57.5% |
| Beta vs S&P 500 | 0.55 | 0.34 |
| Max drawdown (3Y) | -54.0% | -33.3% |
| Market cap | $29.6B | $0.2B |
| P/E (trailing) | 18.0 | 19.4 |
| Dividend yield | 1.97% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | SND |
|---|---|---|
| 2022 | +74.5% | +0.6% |
| 2023 | -6.5% | +7.8% |
| 2024 | -23.2% | +22.1% |
| 2025 | +7.0% | +89.8% |
| 2026 | +26.7% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and SND good diversifiers for each other?
Only partially. A correlation of 0.53 means HAL and SND 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 SND?
The HAL/SND correlation stands at 0.53 on a 3-year window (1 year: 0.50, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is SND a good diversifier for HAL?
Only partially. A correlation of 0.53 means HAL and SND share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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-snd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hal-vs-snd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAL correlations · SND correlations
