HAL vs. NOV
HAL (Halliburton Company) and NOV (National Oilwell Varco, Inc.) are both stocks. Both operate in the Oil & Gas Equipment & Services industry within the Energy sector. Over the past 10 years, HAL returned -0.72%/yr vs -3.67%/yr for NOV. Their 0.71 correlation means they have sometimes moved together and sometimes differently.
Performance
HAL vs. NOV - Performance Comparison
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Returns By Period
In the year-to-date period, HAL achieves a 15.16% return, which is significantly lower than NOV's 26.02% return. Over the past 10 years, HAL has outperformed NOV with an annualized return of -0.72%, while NOV has yielded a comparatively lower -3.67% annualized return.
HAL
- 1D
- 1.93%
- 1M
- -2.15%
- 6M
- -2.91%
- YTD
- 15.16%
- 1Y
- 52.77%
- 3Y*
- -4.21%
- 5Y*
- 11.39%
- 10Y*
- -0.72%
- ALL TIME*
- 5.26%
NOV
- 1D
- 0.67%
- 1M
- 7.82%
- 6M
- 7.34%
- YTD
- 26.02%
- 1Y
- 64.05%
- 3Y*
- 0.85%
- 5Y*
- 9.11%
- 10Y*
- -3.67%
- ALL TIME*
- 5.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $496.27M | $402.82M | $436.82M | |
| $85.24M | $70.35M | $80.85M |
HAL vs. NOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HAL Halliburton Company | 15.16% | 7.02% | -23.19% | -6.47% | 74.45% | 21.99% | -21.23% | -4.90% | -44.63% | -8.18% |
NOV National Oilwell Varco, Inc. | 26.02% | 11.30% | -26.81% | -1.83% | 55.72% | -0.89% | -44.93% | -1.69% | -28.28% | -3.23% |
Correlation
The correlation between HAL and NOV is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 1996 | 0.71 |
The correlation between HAL and NOV has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.
Fundamentals
HAL:
$26.94B
NOV:
$6.93B
HAL:
$1.90
NOV:
$0.26
HAL:
16.95
NOV:
74.18
HAL:
2.70
NOV:
0.91
HAL:
1.21
NOV:
0.82
HAL:
2.45
NOV:
1.13
HAL:
$22.37B
NOV:
$8.64B
HAL:
$3.58B
NOV:
$1.77B
HAL:
$3.88B
NOV:
$602.00M
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Return for Risk
HAL vs. NOV — Risk / Return Rank
HAL
NOV
HAL vs. NOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Halliburton Company (HAL) and National Oilwell Varco, Inc. (NOV). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HAL | NOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.27 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 3.50 | -1.75 |
| Martin ratioReturn relative to average drawdown | 5.65 | 10.53 | -4.88 |
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Drawdowns
HAL vs. NOV - Drawdown Comparison
The maximum HAL drawdown since its inception was -92.99%, roughly equal to the maximum NOV drawdown of -89.77%. Use the drawdown chart below to compare losses from any high point for HAL and NOV.
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Drawdown Indicators
| HAL | NOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.99% | -89.77% | -3.22% |
Max Drawdown (1Y)Largest decline over 1 year | -27.12% | -16.71% | -10.41% |
Max Drawdown (3Y)Largest decline over 3 years | -54.01% | -47.15% | -6.86% |
Max Drawdown (5Y)Largest decline over 5 years | -54.01% | -53.70% | -0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -91.45% | -83.26% | -8.19% |
Current DrawdownCurrent decline from peak | -45.34% | -72.74% | +27.40% |
Average DrawdownAverage peak-to-trough decline | -39.13% | -45.32% | +6.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.49% | 5.60% | +2.89% |
Volatility
HAL vs. NOV - Volatility Comparison
Halliburton Company (HAL) has a higher volatility of 10.00% compared to National Oilwell Varco, Inc. (NOV) at 8.92%. This indicates that HAL's price experiences larger fluctuations and is considered to be riskier than NOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HAL | NOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.00% | 8.92% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 23.49% | 25.27% | -1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.71% | 36.90% | -1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.87% | 41.81% | -1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.96% | 47.13% | -1.17% |
Dividends
HAL vs. NOV - Dividend Comparison
HAL's dividend yield for the trailing twelve months is around 2.11%, less than NOV's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HAL Halliburton Company | 2.11% | 2.41% | 2.50% | 1.77% | 1.22% | 0.79% | 1.67% | 2.94% | 2.71% | 1.47% | 1.33% | 2.12% |
NOV National Oilwell Varco, Inc. | 2.16% | 3.26% | 1.88% | 0.99% | 0.96% | 0.37% | 0.36% | 0.80% | 0.78% | 0.56% | 1.63% | 5.49% |
Financials
HAL vs. NOV - Financials Comparison
This section allows you to compare key financial metrics between Halliburton Company and National Oilwell Varco, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
HAL vs. NOV - Profitability Comparison
HAL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Halliburton Company reported a gross profit of 1.00B and revenue of 5.71B. Therefore, the gross margin over that period was 17.5%.
NOV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, National Oilwell Varco, Inc. reported a gross profit of 521.00M and revenue of 2.13B. Therefore, the gross margin over that period was 24.4%.
HAL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Halliburton Company reported an operating income of 778.00M and revenue of 5.71B, resulting in an operating margin of 13.6%.
NOV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, National Oilwell Varco, Inc. reported an operating income of 193.00M and revenue of 2.13B, resulting in an operating margin of 9.0%.
HAL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Halliburton Company reported a net income of 534.00M and revenue of 5.71B, resulting in a net margin of 9.4%.
NOV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, National Oilwell Varco, Inc. reported a net income of 112.00M and revenue of 2.13B, resulting in a net margin of 5.3%.
Frequently Asked Questions
HAL and NOV have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HAL has higher volatility (10.00%) compared to NOV (8.92%). In terms of maximum drawdown, HAL dropped -92.99% vs NOV's -89.77%.
NOV currently has the higher Sharpe Ratio (1.59 vs 1.33), 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.
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