NOV vs VAL: Correlation
NOV Inc. (NOV) and Valaris Limited (VAL) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOV and VAL?
Across a 3-year window, the weekly returns of NOV and VAL correlate at 0.57, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.57 over 3 years. Stretching to 5 years gives 0.59, with an annualized covariance of 1067.2 %².
Among the 27 assets we track against NOV, VAL ranks #20 by 3-year correlation. On 12-month performance VAL holds a 11.1-point edge, +62.2% against +73.3%.
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 VAL: side by side
| NOV (NOV Inc.) | VAL (Valaris Limited) | |
|---|---|---|
| 1-year return | +62.2% | +73.3% |
| 5-year return | +71.8% | +200.2% |
| Volatility (ann.) | 35.6% | 52.9% |
| Beta vs S&P 500 | 0.61 | 0.77 |
| Max drawdown (3Y) | -47.2% | -63.8% |
| Market cap | $7.4B | $5.9B |
| P/E (trailing) | 74.1 | 6.3 |
| Dividend yield | 1.63% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOV | VAL |
|---|---|---|
| 2022 | +55.7% | +87.8% |
| 2023 | -1.8% | +1.4% |
| 2024 | -26.8% | -35.5% |
| 2025 | +11.3% | +13.9% |
| 2026 | +34.6% | +69.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOV and VAL good diversifiers for each other?
Only partially. A correlation of 0.57 means NOV and VAL 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 VAL?
The NOV/VAL correlation stands at 0.57 on a 3-year window (1 year: 0.41, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is VAL a good diversifier for NOV?
Only partially. A correlation of 0.57 means NOV and VAL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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-val.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nov-vs-val/)
Free with attribution; caching and terms are described in the API documentation.
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Hubs: NOV correlations · VAL correlations
