NBR vs RIG: Correlation
Measured on weekly returns over the past three years, Nabors Industries Ltd. (NBR) and Transocean Ltd (Switzerland) (RIG) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBR and RIG?
Across a 3-year window, the weekly returns of NBR and RIG correlate at 0.72, strong. The past 12 months show a weaker link (0.57) than the 3-year average (0.72). Stretching to 5 years gives 0.74, with an annualized covariance of 2439.1 %².
Within NBR's tracked universe of 18 assets, RIG comes in at #4 by 3-year correlation. The last year tells two different stories: NBR led by 72.2 percentage points, +153.3% for NBR against +81.1% for RIG.
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 RIG: side by side
| NBR (Nabors Industries Ltd.) | RIG (Transocean Ltd (Switzerland)) | |
|---|---|---|
| 1-year return | +153.3% | +81.1% |
| 5-year return | +10.3% | +61.7% |
| Volatility (ann.) | 65.2% | 51.9% |
| Beta vs S&P 500 | 0.88 | 0.93 |
| Max drawdown (3Y) | -82.2% | -75.5% |
| Market cap | $1.4B | $6.4B |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBR | RIG |
|---|---|---|
| 2022 | +91.0% | +65.2% |
| 2023 | -47.3% | +39.3% |
| 2024 | -30.0% | -40.9% |
| 2025 | -5.0% | +10.1% |
| 2026 | +68.8% | +39.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBR and RIG good diversifiers for each other?
To a limited degree. At 0.72 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 RIG?
As of 2026-08-27, the correlation of weekly returns between NBR and RIG is 0.72 over 3 years, 0.57 over 1 year and 0.74 over 5 years.
Is RIG a good diversifier for NBR?
To a limited degree. At 0.72 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 0.72 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/nbr-vs-rig.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbr-vs-rig/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NBR correlations · RIG correlations
