HLX vs MEOH: Correlation
Measured on weekly returns over the past three years, Helix Energy Solutions Group, Inc. (HLX) and Methanex Corporation (MEOH) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLX and MEOH?
Over the past 3 years, HLX and MEOH moved with a correlation of 0.55, which is moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 938.6 %².
Within HLX's tracked universe of 21 assets, MEOH comes in at #14 by 3-year correlation. Over the last 12 months MEOH came out ahead by 10.0 percentage points (+57.1% against +67.1%).
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.
HLX vs MEOH: side by side
| HLX (Helix Energy Solutions Group, Inc.) | MEOH (Methanex Corporation) | |
|---|---|---|
| 1-year return | +57.1% | +67.1% |
| 5-year return | +165.6% | +74.8% |
| Volatility (ann.) | 42.5% | 40.4% |
| Beta vs S&P 500 | 0.65 | 0.54 |
| Max drawdown (3Y) | -55.5% | -52.2% |
| Market cap | – | $4.5B |
| P/E (trailing) | 40.5 | 66.3 |
| Dividend yield | 0.00% | 1.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLX | MEOH |
|---|---|---|
| 2022 | +136.5% | -2.8% |
| 2023 | +39.3% | +27.3% |
| 2024 | -9.3% | +7.3% |
| 2025 | -32.7% | -18.9% |
| 2026 | +61.4% | +47.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLX and MEOH good diversifiers for each other?
Only partially. A correlation of 0.55 means HLX and MEOH 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 HLX and MEOH?
As of 2026-08-27, the correlation of weekly returns between HLX and MEOH is 0.55 over 3 years, 0.55 over 1 year and 0.46 over 5 years.
Is MEOH a good diversifier for HLX?
Only partially. A correlation of 0.55 means HLX and MEOH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 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/hlx-vs-meoh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlx-vs-meoh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HLX correlations · MEOH correlations
