NBR vs PTEN: Correlation
Nabors Industries Ltd. (NBR) and Patterson-UTI Energy, Inc. (PTEN) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBR and PTEN?
Over the past 3 years, NBR and PTEN moved with a correlation of 0.73, which is strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 2311.6 %².
Few assets follow NBR as closely as PTEN, which ranks #3 of 18 tracked partners. The last year tells two different stories: NBR led by 27.9 percentage points, +153.3% for NBR against +125.4% for PTEN.
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.
NBR vs PTEN: side by side
| NBR (Nabors Industries Ltd.) | PTEN (Patterson-UTI Energy, Inc.) | |
|---|---|---|
| 1-year return | +153.3% | +125.4% |
| 5-year return | +10.3% | +84.8% |
| Volatility (ann.) | 65.2% | 48.6% |
| Beta vs S&P 500 | 0.88 | 0.60 |
| Max drawdown (3Y) | -82.2% | -64.6% |
| Market cap | $1.4B | $4.7B |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 0.00% | 3.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBR | PTEN |
|---|---|---|
| 2022 | +91.0% | +101.7% |
| 2023 | -47.3% | -34.2% |
| 2024 | -30.0% | -21.0% |
| 2025 | -5.0% | -22.1% |
| 2026 | +68.8% | +104.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBR and PTEN good diversifiers for each other?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NBR and PTEN?
As of 2026-08-27, the correlation of weekly returns between NBR and PTEN is 0.73 over 3 years, 0.70 over 1 year and 0.81 over 5 years.
Is PTEN a good diversifier for NBR?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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/nbr-vs-pten.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nbr-vs-pten/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NBR correlations · PTEN correlations
