ALOY vs NDLS: Correlation
How closely do REalloys Inc. (ALOY) and Noodles & Company (NDLS) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALOY and NDLS?
On 3 years of weekly data the ALOY/NDLS correlation comes out at 0.30, moderate. The past 12 months show a weaker link (0.07) than the 3-year average (0.30). The 5-year figure is 0.20, and annualized covariance runs at 3664.7 %².
Within ALOY's tracked universe of 11 assets, NDLS comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NDLS ahead by 60.0 points (+100.0% versus +160.0%).
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.
ALOY vs NDLS: side by side
| ALOY (REalloys Inc.) | NDLS (Noodles & Company) | |
|---|---|---|
| 1-year return | +100.0% | +160.0% |
| 5-year return | -4.5% | -85.0% |
| Volatility (ann.) | 125.1% | 98.0% |
| Beta vs S&P 500 | 1.27 | 1.03 |
| Max drawdown (3Y) | -72.9% | -85.6% |
| Market cap | $0.8B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALOY | NDLS |
|---|---|---|
| 2022 | -91.6% | -39.5% |
| 2023 | +135.0% | -42.6% |
| 2024 | -22.0% | -81.6% |
| 2025 | +268.0% | +22.4% |
| 2026 | +41.1% | +160.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALOY and NDLS good diversifiers for each other?
Reasonably. At 0.30, ALOY and NDLS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALOY and NDLS?
As of 2026-08-27, the correlation of weekly returns between ALOY and NDLS is 0.30 over 3 years, 0.07 over 1 year and 0.20 over 5 years.
Is NDLS a good diversifier for ALOY?
Reasonably. At 0.30, ALOY and NDLS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 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/aloy-vs-ndls.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aloy-vs-ndls/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALOY correlations · NDLS correlations
