RIG vs VAL: Correlation
How closely do Transocean Ltd (Switzerland) (RIG) and Valaris Limited (VAL) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIG and VAL?
Across a 3-year window, the weekly returns of RIG and VAL correlate at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.80 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 2185.4 %².
VAL is one of the assets that tracks RIG most closely: it ranks #1 out of the 14 assets we track against RIG. The trailing year gives RIG the advantage: +81.1% versus +73.3%, a 7.8-point spread.
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 VAL: side by side
| RIG (Transocean Ltd (Switzerland)) | VAL (Valaris Limited) | |
|---|---|---|
| 1-year return | +81.1% | +73.3% |
| 5-year return | +61.7% | +200.2% |
| Volatility (ann.) | 51.9% | 52.9% |
| Beta vs S&P 500 | 0.93 | 0.77 |
| Max drawdown (3Y) | -75.5% | -63.8% |
| Market cap | $6.4B | $5.9B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RIG | VAL |
|---|---|---|
| 2022 | +65.2% | +87.8% |
| 2023 | +39.3% | +1.4% |
| 2024 | -40.9% | -35.5% |
| 2025 | +10.1% | +13.9% |
| 2026 | +39.0% | +69.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIG and VAL good diversifiers for each other?
No: a correlation of 0.80 means RIG and VAL tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between RIG and VAL?
The RIG/VAL correlation stands at 0.80 on a 3-year window (1 year: 0.82, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is VAL a good diversifier for RIG?
No: a correlation of 0.80 means RIG and VAL tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 mean?
On the −1 to +1 scale, 0.80 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/rig-vs-val.json
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[](https://www.pairbook.io/pair/rig-vs-val/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RIG correlations · VAL correlations
