HLX vs SLB: Correlation
Measured on weekly returns over the past three years, Helix Energy Solutions Group, Inc. (HLX) and Schlumberger (SLB) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLX and SLB?
On 3 years of weekly data the HLX/SLB correlation comes out at 0.71, strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 1055.9 %².
Within HLX's tracked universe of 21 assets, SLB comes in at #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +57.1% for HLX and +57.1% for SLB.
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 SLB: side by side
| HLX (Helix Energy Solutions Group, Inc.) | SLB (Schlumberger) | |
|---|---|---|
| 1-year return | +57.1% | +57.1% |
| 5-year return | +165.6% | +117.1% |
| Volatility (ann.) | 42.5% | 35.1% |
| Beta vs S&P 500 | 0.65 | 0.57 |
| Max drawdown (3Y) | -55.5% | -46.6% |
| Market cap | – | $81.6B |
| P/E (trailing) | 40.5 | 26.2 |
| Dividend yield | 0.00% | 2.16% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | HLX | SLB |
|---|---|---|
| 2022 | +136.5% | +81.2% |
| 2023 | +39.3% | -0.8% |
| 2024 | -9.3% | -24.5% |
| 2025 | -32.7% | +3.3% |
| 2026 | +61.4% | +44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLX and SLB 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 HLX and SLB?
The HLX/SLB correlation stands at 0.71 on a 3-year window (1 year: 0.73, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is SLB a good diversifier for HLX?
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?
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-slb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hlx-vs-slb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLX correlations · SLB correlations
