BG vs NOV: Correlation
How closely do Bunge Global (BG) and NOV Inc. (NOV) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BG and NOV?
On 3 years of weekly data the BG/NOV correlation comes out at 0.37, moderate. The link has tightened recently: the 1-year correlation (0.50) runs above the 3-year figure (0.37). The 5-year figure is 0.41, and annualized covariance runs at 403.9 %².
Within BG's tracked universe of 37 assets, NOV comes in at #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NOV ahead by 27.0 points (+35.2% versus +62.2%).
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 NOV: side by side
| BG (Bunge Global) | NOV (NOV Inc.) | |
|---|---|---|
| 1-year return | +35.2% | +62.2% |
| 5-year return | +68.5% | +71.8% |
| Volatility (ann.) | 30.7% | 35.6% |
| Beta vs S&P 500 | 0.09 | 0.61 |
| Max drawdown (3Y) | -38.8% | -47.2% |
| Market cap | $21.4B | $7.4B |
| P/E (trailing) | 24.4 | 74.1 |
| Dividend yield | 2.51% | 1.63% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | BG | NOV |
|---|---|---|
| 2022 | +9.3% | +55.7% |
| 2023 | +3.8% | -1.8% |
| 2024 | -20.7% | -26.8% |
| 2025 | +18.6% | +11.3% |
| 2026 | +27.5% | +34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BG and NOV good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BG and NOV?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.50 over the last year and 0.41 over 5 years.
Is NOV a good diversifier for BG?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 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-nov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bg-vs-nov/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BG correlations · NOV correlations
