NOV vs PUMP: Correlation
Measured on weekly returns over the past three years, NOV Inc. (NOV) and ProPetro Holding Corp. (PUMP) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOV and PUMP?
On 3 years of weekly data the NOV/PUMP correlation comes out at 0.59, moderate. The link has loosened recently: the 1-year correlation (0.45) runs below the 3-year figure (0.59). The 5-year figure is 0.67, and annualized covariance runs at 1363.3 %².
Within NOV's tracked universe of 27 assets, PUMP comes in at #18 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PUMP outperformed by 66.0 percentage points (+62.2% for NOV against +128.2% for PUMP). Note the risk asymmetry: PUMP runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NOV vs PUMP: side by side
| NOV (NOV Inc.) | PUMP (ProPetro Holding Corp.) | |
|---|---|---|
| 1-year return | +62.2% | +128.2% |
| 5-year return | +71.8% | +45.4% |
| Volatility (ann.) | 35.6% | 65.1% |
| Beta vs S&P 500 | 0.61 | 0.73 |
| Max drawdown (3Y) | -47.2% | -59.1% |
| Market cap | $7.4B | $1.4B |
| P/E (trailing) | 74.1 | – |
| Dividend yield | 1.63% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOV | PUMP |
|---|---|---|
| 2022 | +55.7% | +28.0% |
| 2023 | -1.8% | -19.2% |
| 2024 | -26.8% | +11.3% |
| 2025 | +11.3% | +1.9% |
| 2026 | +34.6% | +17.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOV and PUMP good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NOV and PUMP?
As of 2026-08-27, the correlation of weekly returns between NOV and PUMP is 0.59 over 3 years, 0.45 over 1 year and 0.67 over 5 years.
Is PUMP a good diversifier for NOV?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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/nov-vs-pump.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nov-vs-pump/)
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Related comparisons
Hubs: NOV correlations · PUMP correlations
