PTEN vs SLB: Correlation
Measured on weekly returns over the past three years, Patterson-UTI Energy, Inc. (PTEN) and Schlumberger (SLB) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PTEN and SLB?
On 3 years of weekly data the PTEN/SLB correlation comes out at 0.68, strong. The link has loosened recently: the 1-year correlation (0.52) runs below the 3-year figure (0.68). The 5-year figure is 0.72, and annualized covariance runs at 1162.4 %².
By 3-year correlation, SLB places #10 of the 23 assets tracked against PTEN. The last year tells two different stories: PTEN led by 68.3 percentage points, +125.4% for PTEN 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.
PTEN vs SLB: side by side
| PTEN (Patterson-UTI Energy, Inc.) | SLB (Schlumberger) | |
|---|---|---|
| 1-year return | +125.4% | +57.1% |
| 5-year return | +84.8% | +117.1% |
| Volatility (ann.) | 48.6% | 35.1% |
| Beta vs S&P 500 | 0.60 | 0.57 |
| Max drawdown (3Y) | -64.6% | -46.6% |
| Market cap | $4.7B | $81.6B |
| P/E (trailing) | – | 26.2 |
| Dividend yield | 3.06% | 2.16% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | PTEN | SLB |
|---|---|---|
| 2022 | +101.7% | +81.2% |
| 2023 | -34.2% | -0.8% |
| 2024 | -21.0% | -24.5% |
| 2025 | -22.1% | +3.3% |
| 2026 | +104.9% | +44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PTEN and SLB good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PTEN and SLB?
As of 2026-08-27, the correlation of weekly returns between PTEN and SLB is 0.68 over 3 years, 0.52 over 1 year and 0.72 over 5 years.
Is SLB a good diversifier for PTEN?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pten-vs-slb.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: PTEN correlations · SLB correlations
