HLX vs XPRO: Correlation
How closely do Helix Energy Solutions Group, Inc. (HLX) and Expro Ltd (XPRO) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLX and XPRO?
On 3 years of weekly data the HLX/XPRO correlation comes out at 0.62, strong. The past 12 months show a tighter link (0.76) than the 3-year average (0.62). The 5-year figure is 0.65, and annualized covariance runs at 1284.1 %².
Within HLX's tracked universe of 21 assets, XPRO comes in at #11 by 3-year correlation. On 12-month performance HLX holds a 11.5-point edge, +57.1% against +45.6%.
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 XPRO: side by side
| HLX (Helix Energy Solutions Group, Inc.) | XPRO (Expro Ltd) | |
|---|---|---|
| 1-year return | +57.1% | +45.6% |
| 5-year return | +165.6% | +6.0% |
| Volatility (ann.) | 42.5% | 48.4% |
| Beta vs S&P 500 | 0.65 | 0.83 |
| Max drawdown (3Y) | -55.5% | -72.2% |
| Market cap | – | $2.0B |
| P/E (trailing) | 40.5 | 100.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLX | XPRO |
|---|---|---|
| 2022 | +136.5% | +26.3% |
| 2023 | +39.3% | -12.2% |
| 2024 | -9.3% | -21.7% |
| 2025 | -32.7% | +7.1% |
| 2026 | +61.4% | +35.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLX and XPRO good diversifiers for each other?
Only partially. A correlation of 0.62 means HLX and XPRO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HLX and XPRO?
As of 2026-08-27, the correlation of weekly returns between HLX and XPRO is 0.62 over 3 years, 0.76 over 1 year and 0.65 over 5 years.
Is XPRO a good diversifier for HLX?
Only partially. A correlation of 0.62 means HLX and XPRO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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-xpro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hlx-vs-xpro/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HLX correlations · XPRO correlations
