NOV vs WHD: Correlation
NOV Inc. (NOV) and Cactus, Inc. (WHD) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOV and WHD?
On 3 years of weekly data the NOV/WHD correlation comes out at 0.69, strong. The link has loosened recently: the 1-year correlation (0.56) runs below the 3-year figure (0.69). The 5-year figure is 0.75, and annualized covariance runs at 1006.7 %².
Within NOV's tracked universe of 27 assets, WHD comes in at #13 by 3-year correlation. Their 12-month results are close: +62.2% for NOV against +66.1% for WHD.
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 WHD: side by side
| NOV (NOV Inc.) | WHD (Cactus, Inc.) | |
|---|---|---|
| 1-year return | +62.2% | +66.1% |
| 5-year return | +71.8% | +89.5% |
| Volatility (ann.) | 35.6% | 41.2% |
| Beta vs S&P 500 | 0.61 | 1.11 |
| Max drawdown (3Y) | -47.2% | -51.4% |
| Market cap | $7.4B | $4.8B |
| P/E (trailing) | 74.1 | 55.7 |
| Dividend yield | 1.63% | 0.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOV | WHD |
|---|---|---|
| 2022 | +55.7% | +33.0% |
| 2023 | -1.8% | -8.7% |
| 2024 | -26.8% | +29.7% |
| 2025 | +11.3% | -20.8% |
| 2026 | +34.6% | +50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOV and WHD good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NOV and WHD?
The NOV/WHD correlation stands at 0.69 on a 3-year window (1 year: 0.56, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is WHD a good diversifier for NOV?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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-whd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nov-vs-whd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NOV correlations · WHD correlations
