OII vs SLB: Correlation
Oceaneering International, Inc. (OII) and Schlumberger (SLB) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OII and SLB?
Across a 3-year window, the weekly returns of OII and SLB correlate at 0.70, strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.70 over 3. Stretching to 5 years gives 0.73, with an annualized covariance of 1063.5 %².
By 3-year correlation, SLB places #4 of the 16 assets tracked against OII. The last year tells two different stories: OII led by 52.8 percentage points, +109.9% for OII against +57.1% for SLB.
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.
OII vs SLB: side by side
| OII (Oceaneering International, Inc.) | SLB (Schlumberger) | |
|---|---|---|
| 1-year return | +109.9% | +57.1% |
| 5-year return | +316.7% | +117.1% |
| Volatility (ann.) | 43.5% | 35.1% |
| Beta vs S&P 500 | 0.81 | 0.57 |
| Max drawdown (3Y) | -47.8% | -46.6% |
| Market cap | $5.1B | $81.6B |
| P/E (trailing) | 14.8 | 26.2 |
| Dividend yield | 0.00% | 2.16% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | OII | SLB |
|---|---|---|
| 2022 | +54.6% | +81.2% |
| 2023 | +21.7% | -0.8% |
| 2024 | +22.6% | -24.5% |
| 2025 | -7.9% | +3.3% |
| 2026 | +113.1% | +44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OII and SLB good diversifiers for each other?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between OII and SLB?
The OII/SLB correlation stands at 0.70 on a 3-year window (1 year: 0.67, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is SLB a good diversifier for OII?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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/oii-vs-slb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/oii-vs-slb/)
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Related comparisons
Hubs: OII correlations · SLB correlations
