NOV vs WFRD: Correlation
NOV Inc. (NOV) and Weatherford International plc (WFRD) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOV and WFRD?
Over the past 3 years, NOV and WFRD moved with a correlation of 0.72, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.72 over 3. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 1192.9 %².
By 3-year correlation, WFRD places #8 of the 27 assets tracked against NOV. Correlation aside, the last 12 months split them widely, with NOV ahead by 16.1 points (+62.2% versus +46.1%).
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 WFRD: side by side
| NOV (NOV Inc.) | WFRD (Weatherford International plc) | |
|---|---|---|
| 1-year return | +62.2% | +46.1% |
| 5-year return | +71.8% | +495.5% |
| Volatility (ann.) | 35.6% | 46.3% |
| Beta vs S&P 500 | 0.61 | 1.32 |
| Max drawdown (3Y) | -47.2% | -70.6% |
| Market cap | $7.4B | $6.6B |
| P/E (trailing) | 74.1 | 17.4 |
| Dividend yield | 1.63% | 1.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOV | WFRD |
|---|---|---|
| 2022 | +55.7% | +83.7% |
| 2023 | -1.8% | +92.1% |
| 2024 | -26.8% | -26.4% |
| 2025 | +11.3% | +11.1% |
| 2026 | +34.6% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOV and WFRD good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NOV and WFRD?
As of 2026-08-27, the correlation of weekly returns between NOV and WFRD is 0.72 over 3 years, 0.69 over 1 year and 0.69 over 5 years.
Is WFRD a good diversifier for NOV?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
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/nov-vs-wfrd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nov-vs-wfrd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NOV correlations · WFRD correlations
