HAL vs XOM: Correlation
How closely do Halliburton (HAL) and ExxonMobil (XOM) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAL and XOM?
Over the past 3 years, HAL and XOM moved with a correlation of 0.71, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.55 versus 0.71 over 3 years. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 657.9 %².
Within HAL's tracked universe of 44 assets, XOM comes in at #18 by 3-year correlation. The last year tells two different stories: HAL led by 20.0 percentage points, +62.8% for HAL against +42.8% for XOM. The rolling one-year correlation moved between 0.56 and 0.83 over the past three years, a moderate range. Note the risk asymmetry: HAL runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 XOM: side by side
| HAL (Halliburton) | XOM (ExxonMobil) | |
|---|---|---|
| 1-year return | +62.8% | +42.8% |
| 5-year return | +93.6% | +237.9% |
| Volatility (ann.) | 38.0% | 24.3% |
| Beta vs S&P 500 | 0.55 | 0.01 |
| Max drawdown (3Y) | -54.0% | -20.1% |
| Market cap | $29.6B | $643.3B |
| P/E (trailing) | 18.0 | 20.1 |
| Dividend yield | 1.97% | 2.58% |
| Sector / category | Energy | Energy |
Year-by-year returns
| Year | HAL | XOM |
|---|---|---|
| 2022 | +74.5% | +87.4% |
| 2023 | -6.5% | -6.3% |
| 2024 | -23.2% | +11.3% |
| 2025 | +7.0% | +16.0% |
| 2026 | +26.7% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and XOM good diversifiers for each other?
To a limited degree. At 0.71 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 XOM?
The HAL/XOM correlation stands at 0.71 on a 3-year window (1 year: 0.55, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is XOM a good diversifier for HAL?
To a limited degree. At 0.71 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 0.71 mean?
A reading of 0.71 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-xom.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hal-vs-xom/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HAL correlations · XOM correlations
