HLX vs WFRD: Correlation
Measured on weekly returns over the past three years, Helix Energy Solutions Group, Inc. (HLX) and Weatherford International plc (WFRD) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLX and WFRD?
Across a 3-year window, the weekly returns of HLX and WFRD correlate at 0.67, strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.69, with an annualized covariance of 1309.5 %².
Among the 21 assets we track against HLX, WFRD ranks #8 by 3-year correlation. The trailing year gives HLX the advantage: +57.1% versus +46.1%, a 11.0-point spread.
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 WFRD: side by side
| HLX (Helix Energy Solutions Group, Inc.) | WFRD (Weatherford International plc) | |
|---|---|---|
| 1-year return | +57.1% | +46.1% |
| 5-year return | +165.6% | +495.5% |
| Volatility (ann.) | 42.5% | 46.3% |
| Beta vs S&P 500 | 0.65 | 1.32 |
| Max drawdown (3Y) | -55.5% | -70.6% |
| Market cap | – | $6.6B |
| P/E (trailing) | 40.5 | 17.4 |
| Dividend yield | 0.00% | 1.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLX | WFRD |
|---|---|---|
| 2022 | +136.5% | +83.7% |
| 2023 | +39.3% | +92.1% |
| 2024 | -9.3% | -26.4% |
| 2025 | -32.7% | +11.1% |
| 2026 | +61.4% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLX and WFRD good diversifiers for each other?
To a limited degree. At 0.67 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 WFRD?
As of 2026-08-27, the correlation of weekly returns between HLX and WFRD is 0.67 over 3 years, 0.61 over 1 year and 0.69 over 5 years.
Is WFRD a good diversifier for HLX?
To a limited degree. At 0.67 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 0.67 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-wfrd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlx-vs-wfrd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HLX correlations · WFRD correlations
