Helmerich & Payne, Inc. (HP) — Stock Correlations & Overview
Over the past year, HP has moved most closely with XES, OIH, PTEN. Explore the stocks most correlated and inversely correlated with HP below, along with its price, financials, and company profile.
Stocks correlated with HP
Correlation of daily returns. Higher positive values move with HP; negative values move opposite it. Informational only, not investment advice.
Most correlated with HP
| Symbol | Company | Correlation |
|---|---|---|
| XES | State Street SPDR S&P Oil & Gas Equipment & Services ETF | 0.80 |
| OIH | VanEck Oil Services ETF | 0.78 |
| PTEN | Patterson-UTI Energy IncDRILLING OIL & GAS WELLS | 0.76 |
| PSCE | Invesco S&P SmallCap Energy ETFINVESTMENT ADVICE | 0.76 |
| IEZ | iShares U.S. Oil Equipment & Services ETF | 0.75 |
Most inversely correlated with HP
| Symbol | Company | Correlation |
|---|---|---|
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.68 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.64 |
| DUG | ProShares UltraShort Energy | -0.64 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.63 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.62 |
Frequently asked questions about HP correlations
- Which stocks are most correlated with HP?
- Based on one year of daily returns, the stocks most correlated with Helmerich & Payne, Inc. (HP) are XES (0.80), OIH (0.78) and PTEN (0.76). 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 HP?
- Over the past year, the stocks most inversely correlated with Helmerich & Payne, Inc. (HP) are OILD (-0.68), ERY (-0.64) and DUG (-0.64). 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 HP correlations calculated?
- We compute the correlation of daily returns between HP 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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