Core Laboratories Inc. (CLB) — Stock Correlations & Overview
Over the past year, CLB has moved most closely with XES, OIH, NOV. Explore the stocks most correlated and inversely correlated with CLB below, along with its price, financials, and company profile.
Stocks correlated with CLB
Correlation of daily returns. Higher positive values move with CLB; negative values move opposite it. Informational only, not investment advice.
Most correlated with CLB
| Symbol | Company | Correlation |
|---|---|---|
| XES | State Street SPDR S&P Oil & Gas Equipment & Services ETF | 0.62 |
| OIH | VanEck Oil Services ETF | 0.59 |
| NOV | NOV Inc.OIL & GAS FIELD MACHINERY & EQUIPMENT | 0.58 |
| IEZ | iShares U.S. Oil Equipment & Services ETF | 0.57 |
| PXJ | Invesco Oil & Gas Services ETF | 0.56 |
Most inversely correlated with CLB
| Symbol | Company | Correlation |
|---|---|---|
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.40 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.39 |
| DUG | ProShares UltraShort Energy | -0.38 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.38 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.37 |
Frequently asked questions about CLB correlations
- Which stocks are most correlated with CLB?
- Based on one year of daily returns, the stocks most correlated with Core Laboratories Inc. (CLB) are XES (0.62), OIH (0.59) and NOV (0.58). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with CLB?
- Over the past year, the stocks most inversely correlated with Core Laboratories Inc. (CLB) are OILD (-0.40), DRIP (-0.39) and DUG (-0.38). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these CLB correlations calculated?
- We compute the correlation of daily returns between CLB and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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