RIG vs SDRL: Correlation
How closely do Transocean Ltd (Switzerland) (RIG) and Seadrill Limited (SDRL) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIG and SDRL?
Across a 3-year window, the weekly returns of RIG and SDRL correlate at 0.78, strong. The link has loosened recently: the 1-year correlation (0.66) runs below the 3-year figure (0.78). Stretching to 5 years gives 0.74, with an annualized covariance of 1580.2 %².
Few assets follow RIG as closely as SDRL, which ranks #3 of 14 tracked partners. The last year tells two different stories: RIG led by 29.8 percentage points, +81.1% for RIG against +51.3% for SDRL.
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.
RIG vs SDRL: side by side
| RIG (Transocean Ltd (Switzerland)) | SDRL (Seadrill Limited) | |
|---|---|---|
| 1-year return | +81.1% | +51.3% |
| 5-year return | +61.7% | n/a |
| Volatility (ann.) | 51.9% | 38.9% |
| Beta vs S&P 500 | 0.93 | 0.91 |
| Max drawdown (3Y) | -75.5% | -66.1% |
| Market cap | $6.4B | $3.0B |
| P/E (trailing) | – | 1612.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RIG | SDRL |
|---|---|---|
| 2022 | +65.2% | – |
| 2023 | +39.3% | +44.9% |
| 2024 | -40.9% | -17.7% |
| 2025 | +10.1% | -11.1% |
| 2026 | +39.0% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIG and SDRL good diversifiers for each other?
Only partially. A correlation of 0.78 means RIG and SDRL 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 RIG and SDRL?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.66 over the last year and 0.74 over 5 years.
Is SDRL a good diversifier for RIG?
Only partially. A correlation of 0.78 means RIG and SDRL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 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/rig-vs-sdrl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rig-vs-sdrl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RIG correlations · SDRL correlations
