ALB vs NEM: Correlation
How closely do Albemarle Corporation (ALB) and Newmont (NEM) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALB and NEM?
Across a 3-year window, the weekly returns of ALB and NEM correlate at 0.32, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.49 versus 0.32 over 3 years. Stretching to 5 years gives 0.27, with an annualized covariance of 739.8 %².
Among the 36 assets we track against ALB, NEM ranks #25 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NEM ahead by 27.8 points (+56.9% versus +84.7%). On a rolling one-year basis the correlation drifted between 0.10 and 0.49, a moderate band.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ALB vs NEM: side by side
| ALB (Albemarle Corporation) | NEM (Newmont) | |
|---|---|---|
| 1-year return | +56.9% | +84.7% |
| 5-year return | -39.2% | +165.9% |
| Volatility (ann.) | 54.3% | 43.0% |
| Beta vs S&P 500 | 1.62 | 0.87 |
| Max drawdown (3Y) | -74.1% | -36.6% |
| Market cap | $16.0B | $139.4B |
| P/E (trailing) | 502.9 | 16.6 |
| Dividend yield | 1.20% | 0.78% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | ALB | NEM |
|---|---|---|
| 2022 | -6.6% | -20.8% |
| 2023 | -32.8% | -8.8% |
| 2024 | -39.5% | -7.8% |
| 2025 | +67.7% | +172.8% |
| 2026 | -3.5% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALB and NEM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALB and NEM?
As of 2026-08-27, the correlation of weekly returns between ALB and NEM is 0.32 over 3 years, 0.49 over 1 year and 0.27 over 5 years.
Is NEM a good diversifier for ALB?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alb-vs-nem.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alb-vs-nem/)
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Related comparisons
Hubs: ALB correlations · NEM correlations
