KLXE vs SLB: Correlation
KLX Energy Services Holdings, Inc. (KLXE) and Schlumberger (SLB) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KLXE and SLB?
Over the past 3 years, KLXE and SLB moved with a correlation of 0.56, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.56 over 3 years. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 1679.1 %².
By 3-year correlation, SLB places #5 of the 11 assets tracked against KLXE. Their recent paths diverged sharply: over the last 12 months SLB outperformed by 79.4 percentage points (-22.3% for KLXE against +57.1% for SLB). One caveat on sizing: KLXE is 2.4 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.
KLXE vs SLB: side by side
| KLXE (KLX Energy Services Holdings, Inc.) | SLB (Schlumberger) | |
|---|---|---|
| 1-year return | -22.3% | +57.1% |
| 5-year return | -76.5% | +117.1% |
| Volatility (ann.) | 84.9% | 35.1% |
| Beta vs S&P 500 | 0.89 | 0.57 |
| Max drawdown (3Y) | -88.0% | -46.6% |
| Market cap | – | $81.6B |
| P/E (trailing) | – | 26.2 |
| Dividend yield | 0.00% | 2.16% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | KLXE | SLB |
|---|---|---|
| 2022 | +458.4% | +81.2% |
| 2023 | -35.0% | -0.8% |
| 2024 | -55.8% | -24.5% |
| 2025 | -62.0% | +3.3% |
| 2026 | -20.6% | +44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KLXE and SLB good diversifiers for each other?
Only partially. A correlation of 0.56 means KLXE and SLB 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 KLXE and SLB?
The KLXE/SLB correlation stands at 0.56 on a 3-year window (1 year: 0.34, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is SLB a good diversifier for KLXE?
Only partially. A correlation of 0.56 means KLXE and SLB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 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/klxe-vs-slb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/klxe-vs-slb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KLXE correlations · SLB correlations
