OIS vs RNGR: Correlation
How closely do Oil States International, Inc. (OIS) and Ranger Energy Services, Inc. (RNGR) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OIS and RNGR?
Across a 3-year window, the weekly returns of OIS and RNGR correlate at 0.63, strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 1286.4 %².
Among the 10 assets we track against OIS, RNGR ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OIS ahead by 37.8 points (+56.8% versus +19.0%).
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.
OIS vs RNGR: side by side
| OIS (Oil States International, Inc.) | RNGR (Ranger Energy Services, Inc.) | |
|---|---|---|
| 1-year return | +56.8% | +19.0% |
| 5-year return | +48.7% | +129.0% |
| Volatility (ann.) | 55.2% | 37.1% |
| Beta vs S&P 500 | 0.78 | 0.49 |
| Max drawdown (3Y) | -62.9% | -40.5% |
| Market cap | $0.5B | $0.4B |
| P/E (trailing) | – | 26.4 |
| Dividend yield | 0.00% | 1.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OIS | RNGR |
|---|---|---|
| 2022 | +50.1% | +7.2% |
| 2023 | -9.0% | -6.3% |
| 2024 | -25.5% | +53.9% |
| 2025 | +33.8% | -7.9% |
| 2026 | +28.1% | +18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OIS and RNGR good diversifiers for each other?
Only partially. A correlation of 0.63 means OIS and RNGR 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 OIS and RNGR?
As of 2026-08-27, the correlation of weekly returns between OIS and RNGR is 0.63 over 3 years, 0.59 over 1 year and 0.43 over 5 years.
Is RNGR a good diversifier for OIS?
Only partially. A correlation of 0.63 means OIS and RNGR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/ois-vs-rngr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ois-vs-rngr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OIS correlations · RNGR correlations
