BG vs NE: Correlation
Measured on weekly returns over the past three years, Bunge Global (BG) and Noble Corporation plc A (NE) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BG and NE?
On 3 years of weekly data the BG/NE correlation comes out at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. The 5-year figure is 0.42, and annualized covariance runs at 512.0 %².
Among the 37 assets we track against BG, NE ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NE ahead by 36.9 points (+35.2% versus +72.1%).
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.
BG vs NE: side by side
| BG (Bunge Global) | NE (Noble Corporation plc A) | |
|---|---|---|
| 1-year return | +35.2% | +72.1% |
| 5-year return | +68.5% | +134.0% |
| Volatility (ann.) | 30.7% | 40.7% |
| Beta vs S&P 500 | 0.09 | 0.96 |
| Max drawdown (3Y) | -38.8% | -63.2% |
| Market cap | $21.4B | $7.5B |
| P/E (trailing) | 24.4 | 48.2 |
| Dividend yield | 2.51% | 4.43% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | BG | NE |
|---|---|---|
| 2022 | +9.3% | +52.0% |
| 2023 | +3.8% | +29.5% |
| 2024 | -20.7% | -31.6% |
| 2025 | +18.6% | -3.2% |
| 2026 | +27.5% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BG and NE good diversifiers for each other?
Reasonably. At 0.41, BG and NE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BG and NE?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.49 over the last year and 0.42 over 5 years.
Is NE a good diversifier for BG?
Reasonably. At 0.41, BG and NE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bg-vs-ne.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bg-vs-ne/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BG correlations · NE correlations
