HLX vs WTTR: Correlation
Measured on weekly returns over the past three years, Helix Energy Solutions Group, Inc. (HLX) and Select Water Solutions, Inc. (WTTR) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLX and WTTR?
Over the past 3 years, HLX and WTTR moved with a correlation of 0.63, which is strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 1189.0 %².
By 3-year correlation, WTTR places #10 of the 21 assets tracked against HLX. Their recent paths diverged sharply: over the last 12 months WTTR outperformed by 83.3 percentage points (+57.1% for HLX against +140.4% for WTTR).
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 WTTR: side by side
| HLX (Helix Energy Solutions Group, Inc.) | WTTR (Select Water Solutions, Inc.) | |
|---|---|---|
| 1-year return | +57.1% | +140.4% |
| 5-year return | +165.6% | +303.0% |
| Volatility (ann.) | 42.5% | 44.1% |
| Beta vs S&P 500 | 0.65 | 0.91 |
| Max drawdown (3Y) | -55.5% | -50.7% |
| Market cap | – | $2.8B |
| P/E (trailing) | 40.5 | 69.8 |
| Dividend yield | 0.00% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLX | WTTR |
|---|---|---|
| 2022 | +136.5% | +49.2% |
| 2023 | +39.3% | -15.6% |
| 2024 | -9.3% | +79.2% |
| 2025 | -32.7% | -18.3% |
| 2026 | +61.4% | +88.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLX and WTTR good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HLX and WTTR?
As of 2026-08-27, the correlation of weekly returns between HLX and WTTR is 0.63 over 3 years, 0.63 over 1 year and 0.61 over 5 years.
Is WTTR a good diversifier for HLX?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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-wttr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hlx-vs-wttr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HLX correlations · WTTR correlations
