HLX vs SND: Correlation
Helix Energy Solutions Group, Inc. (HLX) and Smart Sand, Inc. (SND) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLX and SND?
Over the past 3 years, HLX and SND moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 1385.4 %².
Within HLX's tracked universe of 21 assets, SND comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SND outperformed by 112.4 percentage points (+57.1% for HLX against +169.5% for SND).
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 SND: side by side
| HLX (Helix Energy Solutions Group, Inc.) | SND (Smart Sand, Inc.) | |
|---|---|---|
| 1-year return | +57.1% | +169.5% |
| 5-year return | +165.6% | +141.8% |
| Volatility (ann.) | 42.5% | 57.5% |
| Beta vs S&P 500 | 0.65 | 0.34 |
| Max drawdown (3Y) | -55.5% | -33.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | 40.5 | 19.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLX | SND |
|---|---|---|
| 2022 | +136.5% | +0.6% |
| 2023 | +39.3% | +7.8% |
| 2024 | -9.3% | +22.1% |
| 2025 | -32.7% | +89.8% |
| 2026 | +61.4% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLX and SND good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HLX and SND?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.53 over the last year and 0.53 over 5 years.
Is SND a good diversifier for HLX?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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-snd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlx-vs-snd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HLX correlations · SND correlations
