Seadrill Limited (SDRL) — Stock Correlations & Overview
Over the past year, SDRL has moved most closely with NE, XES, PXJ. Explore the stocks most correlated and inversely correlated with SDRL below, along with its price, financials, and company profile.
Stocks correlated with SDRL
Correlation of daily returns. Higher positive values move with SDRL; negative values move opposite it. Informational only, not investment advice.
Most correlated with SDRL
| Symbol | Company | Correlation |
|---|---|---|
| NE | Noble Corporation plcDRILLING OIL & GAS WELLS | 0.75 |
| XES | State Street SPDR S&P Oil & Gas Equipment & Services ETF | 0.72 |
| PXJ | Invesco Oil & Gas Services ETF | 0.70 |
| RIG | Transocean LTD.DRILLING OIL & GAS WELLS | 0.69 |
| PSCE | Invesco S&P SmallCap Energy ETFINVESTMENT ADVICE | 0.68 |
Most inversely correlated with SDRL
| Symbol | Company | Correlation |
|---|---|---|
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.59 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.58 |
| DUG | ProShares UltraShort Energy | -0.56 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.56 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.56 |
Frequently asked questions about SDRL correlations
- Which stocks are most correlated with SDRL?
- Based on one year of daily returns, the stocks most correlated with Seadrill Limited (SDRL) are NE (0.75), XES (0.72) and PXJ (0.70). 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 SDRL?
- Over the past year, the stocks most inversely correlated with Seadrill Limited (SDRL) are OILD (-0.59), DRIP (-0.58) and DUG (-0.56). 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 SDRL correlations calculated?
- We compute the correlation of daily returns between SDRL 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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