MARA vs. HAL

Last updated Jun 13, 2026

MARA (MARA Holdings, Inc.) and HAL (Halliburton Company) are both stocks. MARA operates in Capital Markets (Financial Services), while HAL operates in Oil & Gas Equipment & Services (Energy). Over the past 10 years, MARA returned -10.09%/yr vs 0.88%/yr for HAL. At a 0.17 correlation, their price movements are largely independent.

Performance

MARA vs. HAL - Performance Comparison

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

Returns By Period

In the year-to-date period, MARA achieves a 56.79% return, which is significantly higher than HAL's 41.41% return. Over the past 10 years, MARA has underperformed HAL with an annualized return of -10.09%, while HAL has yielded a comparatively higher 0.88% annualized return.

MARA

• 1D: 3.45%
• 1M: 10.43%
• YTD: 56.79%
• 6M: 22.22%
• 1Y: -11.00%
• 3Y*: 13.30%
• 5Y*: -11.91%
• 10Y*: -10.09%

HAL

• 1D: -0.40%
• 1M: -3.05%
• YTD: 41.41%
• 6M: 39.63%
• 1Y: 84.34%
• 3Y*: 9.02%
• 5Y*: 12.63%
• 10Y*: 0.88%

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

MARA vs. HAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MARA MARA Holdings, Inc.	56.79%	-46.45%	-28.61%	586.84%	-89.59%	214.75%	1,084.48%	-39.16%	-91.17%	-40.41%
HAL Halliburton Company	41.41%	7.02%	-23.19%	-6.47%	74.45%	21.99%	-21.23%	-4.90%	-44.63%	-8.18%

Correlation

The correlation between MARA and HAL is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since May 4, 2012	0.17

Fundamentals

Market Cap MARA : $5.35B HAL : $33.22B
EPS MARA : -$4.95 HAL : $1.82
PS Ratio MARA : 6.68 HAL : 1.51
Total Revenue (TTM) MARA : $867.82M HAL : $22.17B
Gross Profit (TTM) MARA : $164.95M HAL : $3.40B
EBITDA (TTM) MARA : $373.68M HAL : $3.83B

Return for Risk

MARA vs. HAL — Risk / Return Rank

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

MARA

MARA Risk / Return Rank: 39
MARA Sharpe Ratio Rank: 37
MARA Sortino Ratio Rank: 41
MARA Omega Ratio Rank: 40
MARA Calmar Ratio Rank: 38
MARA Martin Ratio Rank: 39

HAL

HAL Risk / Return Rank: 92
HAL Sharpe Ratio Rank: 92
HAL Sortino Ratio Rank: 90
HAL Omega Ratio Rank: 87
HAL Calmar Ratio Rank: 95
HAL Martin Ratio Rank: 94

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.

MARA vs. HAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MARA Holdings, Inc. (MARA) and Halliburton Company (HAL). 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.

	MARA	HAL	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	2.31	-2.45
Sortino ratio: Return per unit of downside risk	0.37	3.05	-2.68
Omega ratio: Gain probability vs. loss probability	1.04	1.36	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.16	6.47	-6.63
Martin ratio: Return relative to average drawdown	-0.26	16.47	-16.73

MARA vs. HAL - Sharpe Ratio Comparison

The current MARA Sharpe Ratio is -0.14, which is lower than the HAL Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of MARA and HAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MARA vs. HAL - Drawdown Comparison

The maximum MARA drawdown since its inception was -99.74%, which is greater than HAL's maximum drawdown of -92.99%. Use the drawdown chart below to compare losses from any high point for MARA and HAL.

Drawdown Indicators

	MARA	HAL	Difference
Max Drawdown Largest peak-to-trough decline	-99.74%	-92.99%	-6.75%
Max Drawdown (1Y) Largest decline over 1 year	-70.53%	-13.10%	-57.43%
Max Drawdown (3Y) Largest decline over 3 years	-78.34%	-54.01%	-24.33%
Max Drawdown (5Y) Largest decline over 5 years	-95.87%	-54.01%	-41.86%
Max Drawdown (10Y) Largest decline over 10 years	-99.20%	-91.45%	-7.75%
Current Drawdown Current decline from peak	-90.90%	-32.89%	-58.01%
Average Drawdown Average peak-to-trough decline	-78.00%	-39.12%	-38.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.56%	5.14%	+37.42%

Volatility

MARA vs. HAL - Volatility Comparison

MARA Holdings, Inc. (MARA) has a higher volatility of 23.71% compared to Halliburton Company (HAL) at 9.32%. This indicates that MARA's price experiences larger fluctuations and is considered to be riskier than HAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MARA	HAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.71%	9.32%	+14.39%
Volatility (6M) Calculated over the trailing 6-month period	60.50%	24.13%	+36.37%
Volatility (1Y) Calculated over the trailing 1-year period	79.29%	36.76%	+42.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.98%	40.18%	+65.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.15%	45.96%	+98.19%

Dividends

MARA vs. HAL - Dividend Comparison

MARA has not paid dividends to shareholders, while HAL's dividend yield for the trailing twelve months is around 1.72%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HAL Halliburton Company	1.72%	2.41%	2.50%	1.77%	1.22%	0.79%	1.67%	2.94%	2.71%	1.47%	1.33%	2.12%
MARA MARA Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both MARA and HAL in my portfolio?

MARA and HAL have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MARA or HAL?

MARA has higher volatility (23.71%) compared to HAL (9.32%). In terms of maximum drawdown, MARA dropped -99.74% vs HAL's -92.99%.

Which has better risk-adjusted returns?

HAL currently has the higher Sharpe Ratio (2.31 vs -0.14), 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.