NOV vs TTI: Correlation
Measured on weekly returns over the past three years, NOV Inc. (NOV) and Tetra Technologies, Inc. (TTI) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOV and TTI?
Across a 3-year window, the weekly returns of NOV and TTI correlate at 0.57, moderate. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.57). Stretching to 5 years gives 0.64, with an annualized covariance of 1214.4 %².
By 3-year correlation, TTI places #19 of the 27 assets tracked against NOV. On 12-month performance NOV holds a 8.5-point edge, +62.2% against +53.7%. Note the risk asymmetry: TTI runs 1.7 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 TTI: side by side
| NOV (NOV Inc.) | TTI (Tetra Technologies, Inc.) | |
|---|---|---|
| 1-year return | +62.2% | +53.7% |
| 5-year return | +71.8% | +123.5% |
| Volatility (ann.) | 35.6% | 59.6% |
| Beta vs S&P 500 | 0.61 | 0.96 |
| Max drawdown (3Y) | -47.2% | -67.4% |
| Market cap | $7.4B | $1.0B |
| P/E (trailing) | 74.1 | 173.2 |
| Dividend yield | 1.63% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOV | TTI |
|---|---|---|
| 2022 | +55.7% | +21.8% |
| 2023 | -1.8% | +30.6% |
| 2024 | -26.8% | -20.8% |
| 2025 | +11.3% | +161.7% |
| 2026 | +34.6% | -26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOV and TTI good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NOV and TTI?
The NOV/TTI correlation stands at 0.57 on a 3-year window (1 year: 0.32, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is TTI a good diversifier for NOV?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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/nov-vs-tti.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nov-vs-tti/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NOV correlations · TTI correlations
