HP vs RES: Correlation
Measured on weekly returns over the past three years, Helmerich & Payne, Inc. (HP) and RPC, Inc. (RES) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HP and RES?
On 3 years of weekly data the HP/RES correlation comes out at 0.69, strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. The 5-year figure is 0.75, and annualized covariance runs at 1357.3 %².
By 3-year correlation, RES places #6 of the 18 assets tracked against HP. The last year tells two different stories: HP led by 80.3 percentage points, +120.8% for HP against +40.5% for RES.
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.
HP vs RES: side by side
| HP (Helmerich & Payne, Inc.) | RES (RPC, Inc.) | |
|---|---|---|
| 1-year return | +120.8% | +40.5% |
| 5-year return | +92.0% | +84.8% |
| Volatility (ann.) | 44.3% | 44.2% |
| Beta vs S&P 500 | 0.76 | 0.56 |
| Max drawdown (3Y) | -64.4% | -51.9% |
| Market cap | $4.2B | $1.4B |
| P/E (trailing) | – | 58.2 |
| Dividend yield | 2.42% | 2.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HP | RES |
|---|---|---|
| 2022 | +115.2% | +96.7% |
| 2023 | -23.2% | -16.4% |
| 2024 | -7.8% | -16.4% |
| 2025 | -6.3% | -5.5% |
| 2026 | +50.8% | +20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HP and RES good diversifiers for each other?
Only partially. A correlation of 0.69 means HP and RES 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 HP and RES?
As of 2026-08-27, the correlation of weekly returns between HP and RES is 0.69 over 3 years, 0.60 over 1 year and 0.75 over 5 years.
Is RES a good diversifier for HP?
Only partially. A correlation of 0.69 means HP and RES share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
A reading of 0.69 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hp-vs-res.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hp-vs-res/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HP correlations · RES correlations
