HAL vs. AFL

Last updated Jun 9, 2026

HAL (Halliburton Company) and AFL (Aflac Incorporated) are both stocks. HAL operates in Oil & Gas Equipment & Services (Energy), while AFL operates in Insurance - Life (Financial Services). Over the past 10 years, HAL returned 1.02%/yr vs 15.48%/yr for AFL. At a 0.27 correlation, their price movements are largely independent.

Performance

HAL vs. AFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Halliburton Company (HAL) and Aflac Incorporated (AFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HAL achieves a 44.62% return, which is significantly higher than AFL's 5.61% return. Over the past 10 years, HAL has underperformed AFL with an annualized return of 1.02%, while AFL has yielded a comparatively higher 15.48% annualized return.

HAL

• 1D: 3.37%
• 1M: 2.11%
• YTD: 44.62%
• 6M: 45.55%
• 1Y: 101.95%
• 3Y*: 10.25%
• 5Y*: 12.92%
• 10Y*: 1.02%

AFL

• 1D: -2.54%
• 1M: 2.42%
• YTD: 5.61%
• 6M: 7.77%
• 1Y: 13.52%
• 3Y*: 21.24%
• 5Y*: 17.94%
• 10Y*: 15.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HAL vs. AFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HAL Halliburton Company	44.62%	7.02%	-23.19%	-6.47%	74.45%	21.99%	-21.23%	-4.90%	-44.63%	-8.18%
AFL Aflac Incorporated	5.61%	8.94%	28.08%	17.36%	26.41%	34.55%	-13.60%	18.55%	6.20%	29.02%

Correlation

The correlation between HAL and AFL is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jul 20, 1984	0.27

The correlation between HAL and AFL shifts across timeframes, from -0.01 (1 year) to 0.40 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HAL : $33.98B AFL : $59.32B
EPS HAL : $1.82 AFL : $8.76
PE Ratio HAL : 22.29 AFL : 13.16
PEG Ratio HAL : 3.56 AFL : 3.41
PS Ratio HAL : 1.55 AFL : 3.35
PB Ratio HAL : 3.14 AFL : 2.64
Total Revenue (TTM) HAL : $22.17B AFL : $18.22B
Gross Profit (TTM) HAL : $3.40B AFL : $8.70B
EBITDA (TTM) HAL : $3.83B AFL : $6.67B

Return for Risk

HAL vs. AFL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HAL

HAL Risk / Return Rank: 94
HAL Sharpe Ratio Rank: 94
HAL Sortino Ratio Rank: 93
HAL Omega Ratio Rank: 90
HAL Calmar Ratio Rank: 96
HAL Martin Ratio Rank: 96

AFL

AFL Risk / Return Rank: 65
AFL Sharpe Ratio Rank: 68
AFL Sortino Ratio Rank: 61
AFL Omega Ratio Rank: 58
AFL Calmar Ratio Rank: 70
AFL Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HAL vs. AFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Halliburton Company (HAL) and Aflac Incorporated (AFL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HAL	AFL	Difference
Sharpe ratio: Return per unit of total volatility	2.78	0.80	+1.98
Sortino ratio: Return per unit of downside risk	3.48	1.23	+2.25
Omega ratio: Gain probability vs. loss probability	1.42	1.14	+0.27
Calmar ratio: Return relative to maximum drawdown	7.82	1.49	+6.33
Martin ratio: Return relative to average drawdown	20.24	3.70	+16.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAL vs. AFL - Sharpe Ratio Comparison

The current HAL Sharpe Ratio is 2.78, which is higher than the AFL Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of HAL and AFL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HAL	AFL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.78	0.80	+1.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.86	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.02	0.60	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.48	-0.34

Drawdowns

HAL vs. AFL - Drawdown Comparison

The maximum HAL drawdown since its inception was -92.99%, which is greater than AFL's maximum drawdown of -82.71%. Use the drawdown chart below to compare losses from any high point for HAL and AFL.

Drawdown Indicators

	HAL	AFL	Difference
Max Drawdown Largest peak-to-trough decline	-92.99%	-82.71%	-10.28%
Max Drawdown (1Y) Largest decline over 1 year	-13.10%	-9.11%	-3.99%
Max Drawdown (3Y) Largest decline over 3 years	-54.01%	-13.56%	-40.45%
Max Drawdown (5Y) Largest decline over 5 years	-54.01%	-19.86%	-34.15%
Max Drawdown (10Y) Largest decline over 10 years	-91.45%	-54.89%	-36.56%
Current Drawdown Current decline from peak	-31.36%	-2.54%	-28.82%
Average Drawdown Average peak-to-trough decline	-39.13%	-11.66%	-27.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.06%	3.67%	+1.39%

Volatility

HAL vs. AFL - Volatility Comparison

Halliburton Company (HAL) has a higher volatility of 10.08% compared to Aflac Incorporated (AFL) at 5.82%. This indicates that HAL's price experiences larger fluctuations and is considered to be riskier than AFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAL	AFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.08%	5.82%	+4.26%
Volatility (6M) Calculated over the trailing 6-month period	24.20%	12.24%	+11.96%
Volatility (1Y) Calculated over the trailing 1-year period	36.99%	17.08%	+19.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.19%	20.94%	+19.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.98%	25.77%	+20.21%

Dividends

HAL vs. AFL - Dividend Comparison

HAL's dividend yield for the trailing twelve months is around 1.68%, less than AFL's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFL Aflac Incorporated	2.07%	2.10%	1.93%	2.04%	2.22%	2.26%	2.52%	2.04%	2.28%	1.98%	2.39%	2.64%
HAL Halliburton Company	1.68%	2.41%	2.50%	1.77%	1.22%	0.79%	1.67%	2.94%	2.71%	1.47%	1.33%	2.12%

Financials

HAL vs. AFL - Profitability Comparison

The chart below illustrates the profitability comparison between Halliburton Company and Aflac Incorporated over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HAL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Halliburton Company reported a gross profit of 790.00M and revenue of 5.40B. Therefore, the gross margin over that period was 14.6%.

AFL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aflac Incorporated reported a gross profit of 2.48B and revenue of 4.32B. Therefore, the gross margin over that period was 57.5%.

HAL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Halliburton Company reported an operating income of 679.00M and revenue of 5.40B, resulting in an operating margin of 12.6%.

AFL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aflac Incorporated reported an operating income of 1.23B and revenue of 4.32B, resulting in an operating margin of 28.4%.

HAL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Halliburton Company reported a net income of 461.00M and revenue of 5.40B, resulting in a net margin of 8.5%.

AFL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aflac Incorporated reported a net income of 1.02B and revenue of 4.32B, resulting in a net margin of 23.6%.

Frequently Asked Questions

Can I hold both HAL and AFL in my portfolio?

HAL and AFL have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HAL or AFL?

HAL has higher volatility (10.08%) compared to AFL (5.82%). In terms of maximum drawdown, HAL dropped -92.99% vs AFL's -82.71%.

Which has better risk-adjusted returns?

HAL currently has the higher Sharpe Ratio (2.78 vs 0.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.