ANNA vs NG: Correlation
Measured on weekly returns over the past three years, AleAnna, Inc. (ANNA) and Novagold Resources Inc. (NG) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANNA and NG?
Over the past 3 years, ANNA and NG moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.26). Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -1678.2 %².
By 3-year correlation, NG places #91 of the 103 assets tracked against ANNA. Their recent paths diverged sharply: over the last 12 months NG outperformed by 72.7 percentage points (-34.3% for ANNA against +38.4% for NG).
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.
ANNA vs NG: side by side
| ANNA (AleAnna, Inc.) | NG (Novagold Resources Inc.) | |
|---|---|---|
| 1-year return | -34.3% | +38.4% |
| 5-year return | -71.7% | +28.8% |
| Volatility (ann.) | 88.7% | 72.0% |
| Beta vs S&P 500 | -0.92 | 1.55 |
| Max drawdown (3Y) | -86.3% | -63.5% |
| Market cap | $0.1B | $4.0B |
| P/E (trailing) | 14.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANNA | NG |
|---|---|---|
| 2022 | – | -12.8% |
| 2023 | +7.3% | -37.5% |
| 2024 | -37.6% | -11.0% |
| 2025 | -57.6% | +179.9% |
| 2026 | -3.0% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANNA and NG good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ANNA and NG?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.37 over the last year and -0.24 over 5 years.
Is NG a good diversifier for ANNA?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/anna-vs-ng.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/anna-vs-ng/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ANNA correlations · NG correlations
