NPKI vs OII: Correlation
Measured on weekly returns over the past three years, NPK International Inc. (NPKI) and Oceaneering International, Inc. (OII) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPKI and OII?
On 3 years of weekly data the NPKI/OII correlation comes out at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.52). The 5-year figure is 0.60, and annualized covariance runs at 924.7 %².
Among the 15 assets we track against NPKI, OII ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OII ahead by 78.3 points (+31.6% versus +109.9%).
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.
NPKI vs OII: side by side
| NPKI (NPK International Inc.) | OII (Oceaneering International, Inc.) | |
|---|---|---|
| 1-year return | +31.6% | +109.9% |
| 5-year return | +429.3% | +316.7% |
| Volatility (ann.) | 41.0% | 43.5% |
| Beta vs S&P 500 | 0.88 | 0.81 |
| Max drawdown (3Y) | -42.1% | -47.8% |
| Market cap | $1.2B | $5.1B |
| P/E (trailing) | 28.8 | 14.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPKI | OII |
|---|---|---|
| 2022 | +41.2% | +54.6% |
| 2023 | +60.0% | +21.7% |
| 2024 | +15.5% | +22.6% |
| 2025 | +55.4% | -7.9% |
| 2026 | +13.7% | +113.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPKI and OII good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NPKI and OII?
The NPKI/OII correlation stands at 0.52 on a 3-year window (1 year: 0.30, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is OII a good diversifier for NPKI?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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.
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Related comparisons
Hubs: NPKI correlations · OII correlations
