HLX vs PEO: Correlation
How closely do Helix Energy Solutions Group, Inc. (HLX) and Adams Natural Resources Fund, Inc. (PEO) 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 HLX and PEO?
Over the past 3 years, HLX and PEO moved with a correlation of 0.71, which is strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 611.8 %².
Within HLX's tracked universe of 21 assets, PEO comes in at #5 by 3-year correlation. The last year tells two different stories: HLX led by 15.5 percentage points, +57.1% for HLX against +41.6% for PEO. One caveat on sizing: HLX is 2.1 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.
HLX vs PEO: side by side
| HLX (Helix Energy Solutions Group, Inc.) | PEO (Adams Natural Resources Fund, Inc.) | |
|---|---|---|
| 1-year return | +57.1% | +41.6% |
| 5-year return | +165.6% | +179.3% |
| Volatility (ann.) | 42.5% | 20.2% |
| Beta vs S&P 500 | 0.65 | 0.30 |
| Max drawdown (3Y) | -55.5% | -18.9% |
| Market cap | – | $0.8B |
| P/E (trailing) | 40.5 | 4.8 |
| Dividend yield | 0.00% | 7.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLX | PEO |
|---|---|---|
| 2022 | +136.5% | +41.8% |
| 2023 | +39.3% | +0.9% |
| 2024 | -9.3% | +13.6% |
| 2025 | -32.7% | +10.0% |
| 2026 | +61.4% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLX and PEO good diversifiers for each other?
Only partially. A correlation of 0.71 means HLX and PEO 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 PEO?
As of 2026-08-27, the correlation of weekly returns between HLX and PEO is 0.71 over 3 years, 0.72 over 1 year and 0.68 over 5 years.
Is PEO a good diversifier for HLX?
Only partially. A correlation of 0.71 means HLX and PEO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hlx-vs-peo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlx-vs-peo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HLX correlations · PEO correlations
