HLX vs VTOL: Correlation
Helix Energy Solutions Group, Inc. (HLX) and Bristow Group, Inc. (VTOL) 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 VTOL?
Across a 3-year window, the weekly returns of HLX and VTOL correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 920.8 %².
By 3-year correlation, VTOL places #13 of the 21 assets tracked against HLX. Correlation aside, the last 12 months split them widely, with HLX ahead by 35.6 points (+57.1% versus +21.5%).
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 VTOL: side by side
| HLX (Helix Energy Solutions Group, Inc.) | VTOL (Bristow Group, Inc.) | |
|---|---|---|
| 1-year return | +57.1% | +21.5% |
| 5-year return | +165.6% | +49.4% |
| Volatility (ann.) | 42.5% | 38.0% |
| Beta vs S&P 500 | 0.65 | 1.00 |
| Max drawdown (3Y) | -55.5% | -35.3% |
| Market cap | – | $1.4B |
| P/E (trailing) | 40.5 | 13.0 |
| Dividend yield | 0.00% | 0.55% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLX | VTOL |
|---|---|---|
| 2022 | +136.5% | -14.3% |
| 2023 | +39.3% | +4.2% |
| 2024 | -9.3% | +21.3% |
| 2025 | -32.7% | +6.8% |
| 2026 | +61.4% | +26.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLX and VTOL 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 VTOL?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.57 over the last year and 0.55 over 5 years.
Is VTOL 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-vtol.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlx-vs-vtol/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLX correlations · VTOL correlations
