HP vs SBC: Correlation
How closely do Helmerich & Payne, Inc. (HP) and SBC Medical Group Holdings Incorporated (SBC) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HP and SBC?
Across a 3-year window, the weekly returns of HP and SBC correlate at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.27 over 3. Stretching to 5 years gives -0.23, with an annualized covariance of -963.8 %².
Among the 18 assets we track against HP, SBC sits near the bottom by co-movement, at rank #17. The last year tells two different stories: HP led by 122.5 percentage points, +120.8% for HP against -1.7% for SBC. One caveat on sizing: SBC is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SBC: side by side
| HP (Helmerich & Payne, Inc.) | SBC (SBC Medical Group Holdings Incorporated) | |
|---|---|---|
| 1-year return | +120.8% | -1.7% |
| 5-year return | +92.0% | n/a |
| Volatility (ann.) | 44.3% | 81.1% |
| Beta vs S&P 500 | 0.76 | 0.56 |
| Max drawdown (3Y) | -64.4% | -82.1% |
| Market cap | $4.2B | $0.4B |
| P/E (trailing) | – | 8.6 |
| Dividend yield | 2.42% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HP | SBC |
|---|---|---|
| 2022 | +115.2% | – |
| 2023 | -23.2% | +5.6% |
| 2024 | -7.8% | -48.4% |
| 2025 | -6.3% | -22.5% |
| 2026 | +50.8% | -4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HP and SBC good diversifiers for each other?
Yes. With a correlation of -0.27, HP and SBC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HP and SBC?
As of 2026-08-27, the correlation of weekly returns between HP and SBC is -0.27 over 3 years, -0.21 over 1 year and -0.23 over 5 years.
Is SBC a good diversifier for HP?
Yes. With a correlation of -0.27, HP and SBC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/hp-vs-sbc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hp-vs-sbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HP correlations · SBC correlations
