NOV vs. HAL
NOV (National Oilwell Varco, Inc.) and HAL (Halliburton Company) are both stocks. Both operate in the Oil & Gas Equipment & Services industry within the Energy sector. Over the past 10 years, NOV returned -4.64%/yr vs -0.31%/yr for HAL. A 0.71 correlation means they provide meaningful diversification when combined.
Performance
NOV vs. HAL - Performance Comparison
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Returns By Period
In the year-to-date period, NOV achieves a 21.61% return, which is significantly lower than HAL's 25.37% return. Over the past 10 years, NOV has underperformed HAL with an annualized return of -4.64%, while HAL has yielded a comparatively higher -0.31% annualized return.
NOV
- 1D
- 0.37%
- 1M
- -9.10%
- YTD
- 21.61%
- 6M
- 20.76%
- 1Y
- 45.26%
- 3Y*
- 9.93%
- 5Y*
- 6.05%
- 10Y*
- -4.64%
HAL
- 1D
- -0.17%
- 1M
- -14.98%
- YTD
- 25.37%
- 6M
- 25.77%
- 1Y
- 72.96%
- 3Y*
- 6.74%
- 5Y*
- 10.16%
- 10Y*
- -0.31%
NOV vs. HAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOV National Oilwell Varco, Inc. | 21.61% | 11.30% | -26.81% | -1.83% | 55.72% | -0.89% | -44.93% | -1.69% | -28.28% | -3.23% |
HAL Halliburton Company | 25.37% | 7.02% | -23.19% | -6.47% | 74.45% | 21.99% | -21.23% | -4.90% | -44.63% | -8.18% |
Correlation
The correlation between NOV and HAL is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 1996 | 0.71 |
The correlation between NOV and HAL has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.
Fundamentals
NOV:
$6.83B
HAL:
$29.46B
NOV:
$0.25
HAL:
$1.82
NOV:
76.13
HAL:
19.33
NOV:
0.93
HAL:
3.08
NOV:
0.80
HAL:
1.34
NOV:
1.09
HAL:
2.72
NOV:
$8.69B
HAL:
$22.17B
NOV:
$1.70B
HAL:
$3.40B
NOV:
$633.00M
HAL:
$3.83B
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Return for Risk
NOV vs. HAL — Risk / Return Rank
NOV
HAL
NOV vs. HAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Oilwell Varco, Inc. (NOV) 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.
| NOV | HAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.33 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 3.99 | -1.17 |
| Martin ratioReturn relative to average drawdown | 7.25 | 14.08 | -6.83 |
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Drawdowns
NOV vs. HAL - Drawdown Comparison
The maximum NOV drawdown since its inception was -89.77%, roughly equal to the maximum HAL drawdown of -92.99%. Use the drawdown chart below to compare losses from any high point for NOV and HAL.
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Drawdown Indicators
| NOV | HAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.77% | -92.99% | +3.22% |
Max Drawdown (1Y)Largest decline over 1 year | -16.10% | -18.38% | +2.28% |
Max Drawdown (3Y)Largest decline over 3 years | -47.15% | -54.01% | +6.86% |
Max Drawdown (5Y)Largest decline over 5 years | -53.70% | -54.01% | +0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -83.26% | -91.45% | +8.19% |
Current DrawdownCurrent decline from peak | -73.69% | -40.50% | -33.19% |
Average DrawdownAverage peak-to-trough decline | -45.22% | -39.12% | -6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.27% | 5.20% | +1.07% |
Volatility
NOV vs. HAL - Volatility Comparison
National Oilwell Varco, Inc. (NOV) has a higher volatility of 12.17% compared to Halliburton Company (HAL) at 10.18%. This indicates that NOV'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.
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Volatility by Period
| NOV | HAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.17% | 10.18% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 26.09% | 24.46% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.62% | 36.79% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.22% | 40.09% | +2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.26% | 45.99% | +1.27% |
Dividends
NOV vs. HAL - Dividend Comparison
NOV's dividend yield for the trailing twelve months is around 2.24%, more than HAL's 1.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HAL Halliburton Company | 1.94% | 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. | 2.24% | 3.26% | 1.88% | 0.99% | 0.96% | 0.37% | 0.36% | 0.80% | 0.78% | 0.56% | 1.63% | 5.49% |
Financials
NOV vs. HAL - Financials Comparison
This section allows you to compare key financial metrics between National Oilwell Varco, Inc. and Halliburton Company. 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
NOV vs. HAL - Profitability Comparison
NOV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported a gross profit of 379.00M and revenue of 2.05B. Therefore, the gross margin over that period was 18.5%.
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%.
NOV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported an operating income of 47.00M and revenue of 2.05B, resulting in an operating margin of 2.3%.
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%.
NOV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Oilwell Varco, Inc. reported a net income of 19.00M and revenue of 2.05B, resulting in a net margin of 0.9%.
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%.
Frequently Asked Questions
NOV and HAL 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.
NOV has higher volatility (12.17%) compared to HAL (10.18%). In terms of maximum drawdown, NOV dropped -89.77% vs HAL's -92.99%.
HAL currently has the higher Sharpe Ratio (2.03 vs 1.18), 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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