Transocean LTD. (RIG) — Stock Correlations & Overview
Over the past year, RIG has moved most closely with VAL, NE, XES. Explore the stocks most correlated and inversely correlated with RIG below, along with its price, financials, and company profile.
Stocks correlated with RIG
Correlation of daily returns. Higher positive values move with RIG; negative values move opposite it. Informational only, not investment advice.
Most correlated with RIG
| Symbol | Company | Correlation |
|---|---|---|
| VAL | Valaris LimitedDRILLING OIL & GAS WELLS | 0.81 |
| NE | Noble Corporation plcDRILLING OIL & GAS WELLS | 0.73 |
| XES | State Street SPDR S&P Oil & Gas Equipment & Services ETF | 0.71 |
| OIH | VanEck Oil Services ETF | 0.69 |
| SDRL | Seadrill LimitedDRILLING OIL & GAS WELLS | 0.69 |
Most inversely correlated with RIG
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.56 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.56 |
| DUG | ProShares UltraShort Energy | -0.53 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.53 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.53 |
Frequently asked questions about RIG correlations
- Which stocks are most correlated with RIG?
- Based on one year of daily returns, the stocks most correlated with Transocean LTD. (RIG) are VAL (0.81), NE (0.73) and XES (0.71). 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 RIG?
- Over the past year, the stocks most inversely correlated with Transocean LTD. (RIG) are DRIP (-0.56), OILD (-0.56) and DUG (-0.53). 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 RIG correlations calculated?
- We compute the correlation of daily returns between RIG 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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