OII vs WHD: Correlation
How closely do Oceaneering International, Inc. (OII) and Cactus, Inc. (WHD) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OII and WHD?
Across a 3-year window, the weekly returns of OII and WHD correlate at 0.62, strong. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.62). Stretching to 5 years gives 0.68, with an annualized covariance of 1112.8 %².
By 3-year correlation, WHD places #7 of the 16 assets tracked against OII. The last year tells two different stories: OII led by 43.8 percentage points, +109.9% for OII 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.
OII vs WHD: side by side
| OII (Oceaneering International, Inc.) | WHD (Cactus, Inc.) | |
|---|---|---|
| 1-year return | +109.9% | +66.1% |
| 5-year return | +316.7% | +89.5% |
| Volatility (ann.) | 43.5% | 41.2% |
| Beta vs S&P 500 | 0.81 | 1.11 |
| Max drawdown (3Y) | -47.8% | -51.4% |
| Market cap | $5.1B | $4.8B |
| P/E (trailing) | 14.8 | 55.7 |
| Dividend yield | 0.00% | 0.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OII | WHD |
|---|---|---|
| 2022 | +54.6% | +33.0% |
| 2023 | +21.7% | -8.7% |
| 2024 | +22.6% | +29.7% |
| 2025 | -7.9% | -20.8% |
| 2026 | +113.1% | +50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OII and WHD good diversifiers for each other?
Only partially. A correlation of 0.62 means OII and WHD 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 OII and WHD?
As of 2026-08-27, the correlation of weekly returns between OII and WHD is 0.62 over 3 years, 0.28 over 1 year and 0.68 over 5 years.
Is WHD a good diversifier for OII?
Only partially. A correlation of 0.62 means OII and WHD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/oii-vs-whd.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OII correlations · WHD correlations
