SDRL vs. NE

Last updated Aug 1, 2026

SDRL (Seadrill Limited) and NE (Noble Corporation) are both stocks. Both operate in the Oil & Gas Drilling industry within the Energy sector. Over the past 3 years, SDRL returned -2.02%/yr vs -1.50%/yr for NE. Their 0.70 correlation means they have sometimes moved together and sometimes differently.

Performance

SDRL vs. NE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Seadrill Limited (SDRL) and Noble Corporation (NE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDRL achieves a 29.60% return, which is significantly lower than NE's 53.45% return.

SDRL

• 1D: 3.70%
• 1M: 12.47%
• 6M: 16.53%
• YTD: 29.60%
• 1Y: 61.29%
• 3Y*: -2.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.44%

NE

• 1D: 2.32%
• 1M: 11.61%
• 6M: 21.66%
• YTD: 53.45%
• 1Y: 74.23%
• 3Y*: -1.50%
• 5Y*: 17.68%
• 10Y*: —
• ALL TIME*: 14.72%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NE Noble Corporation	$85.08M	$69.89M	$69.38M
SDRL Seadrill Limited	$30.11M	$30.89M	$35.51M

SDRL vs. NE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SDRL Seadrill Limited	29.60%	-11.12%	-17.66%	44.85%	25.54%
NE Noble Corporation	53.45%	-3.21%	-31.57%	29.54%	17.33%

Correlation

The correlation between SDRL and NE is 0.75, 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.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (All Time) Calculated using the full available price history since Oct 14, 2022	0.70

The correlation between SDRL and NE has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.

Fundamentals

Market Cap SDRL : $2.80B NE : $6.77B
EPS SDRL : -$0.38 NE : $1.25
PS Ratio SDRL : 1.96 NE : 2.17
Total Revenue (TTM) SDRL : $1.45B NE : $2.35B
Gross Profit (TTM) SDRL : $240.00M NE : $545.37M
EBITDA (TTM) SDRL : $285.00M NE : $805.74M

Return for Risk

SDRL vs. NE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SDRL

SDRL Risk / Return Rank: 78
SDRL Sharpe Ratio Rank: 81
SDRL Sortino Ratio Rank: 78
SDRL Omega Ratio Rank: 74
SDRL Calmar Ratio Rank: 76
SDRL Martin Ratio Rank: 79

NE

NE Risk / Return Rank: 83
NE Sharpe Ratio Rank: 87
NE Sortino Ratio Rank: 83
NE Omega Ratio Rank: 80
NE Calmar Ratio Rank: 81
NE Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SDRL vs. NE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Seadrill Limited (SDRL) and Noble Corporation (NE). 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.

	SDRL	NE	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.60	-0.31
Sortino ratio: Return per unit of downside risk	1.87	2.21	-0.34
Omega ratio: Gain probability vs. loss probability	1.22	1.27	-0.05
Calmar ratio: Return relative to maximum drawdown	1.73	2.17	-0.44
Martin ratio: Return relative to average drawdown	4.81	6.12	-1.31

SDRL vs. NE - Sharpe Ratio Comparison

The current SDRL Sharpe Ratio is 1.28, which is comparable to the NE Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of SDRL and NE, 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

SDRL vs. NE - Drawdown Comparison

The maximum SDRL drawdown since its inception was -66.14%, roughly equal to the maximum NE drawdown of -63.16%. Use the drawdown chart below to compare losses from any high point for SDRL and NE.

Drawdown Indicators

	SDRL	NE	Difference
Max Drawdown Largest peak-to-trough decline	-66.14%	-63.16%	-2.98%
Max Drawdown (1Y) Largest decline over 1 year	-31.20%	-31.06%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-66.14%	-63.16%	-2.98%
Max Drawdown (5Y) Largest decline over 5 years	—	-63.16%	—
Current Drawdown Current decline from peak	-18.97%	-21.17%	+2.20%
Average Drawdown Average peak-to-trough decline	-23.01%	-19.61%	-3.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.22%	10.98%	+0.24%

Volatility

SDRL vs. NE - Volatility Comparison

The current volatility for Seadrill Limited (SDRL) is 13.63%, while Noble Corporation (NE) has a volatility of 14.73%. This indicates that SDRL experiences smaller price fluctuations and is considered to be less risky than NE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDRL	NE	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.63%	14.73%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	28.44%	30.99%	-2.55%
Volatility (1Y) Calculated over the trailing 1-year period	42.20%	42.22%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.37%	43.88%	-1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.37%	43.53%	-1.16%

Dividends

SDRL vs. NE - Dividend Comparison

SDRL has not paid dividends to shareholders, while NE's dividend yield for the trailing twelve months is around 4.72%.

Position	TTM	2025	2024	2023
NE Noble Corporation	4.72%	7.08%	5.73%	1.45%
SDRL Seadrill Limited	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both SDRL and NE in my portfolio?

SDRL and NE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDRL or NE?

NE has higher volatility (14.73%) compared to SDRL (13.63%). In terms of maximum drawdown, SDRL dropped -66.14% vs NE's -63.16%.

Which has better risk-adjusted returns?

NE currently has the higher Sharpe Ratio (1.60 vs 1.28), 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.