NOV vs TDW: Correlation
How closely do NOV Inc. (NOV) and Tidewater Inc. (TDW) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOV and TDW?
Across a 3-year window, the weekly returns of NOV and TDW correlate at 0.64, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 1062.0 %².
Among the 27 assets we track against NOV, TDW ranks #16 by 3-year correlation. On 12-month performance NOV holds a 9.0-point edge, +62.2% against +53.2%.
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 TDW: side by side
| NOV (NOV Inc.) | TDW (Tidewater Inc.) | |
|---|---|---|
| 1-year return | +62.2% | +53.2% |
| 5-year return | +71.8% | +724.8% |
| Volatility (ann.) | 35.6% | 46.4% |
| Beta vs S&P 500 | 0.61 | 0.92 |
| Max drawdown (3Y) | -47.2% | -70.3% |
| Market cap | $7.4B | $4.6B |
| P/E (trailing) | 74.1 | 18.0 |
| Dividend yield | 1.63% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOV | TDW |
|---|---|---|
| 2022 | +55.7% | +244.1% |
| 2023 | -1.8% | +95.7% |
| 2024 | -26.8% | -24.1% |
| 2025 | +11.3% | -7.7% |
| 2026 | +34.6% | +84.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOV and TDW good diversifiers for each other?
Only partially. A correlation of 0.64 means NOV and TDW 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 NOV and TDW?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.68 over the last year and 0.67 over 5 years.
Is TDW a good diversifier for NOV?
Only partially. A correlation of 0.64 means NOV and TDW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 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.
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Related comparisons
Hubs: NOV correlations · TDW correlations
