BRK.B vs NB: Correlation
Measured on weekly returns over the past three years, Berkshire Hathaway (BRK.B) and NioCorp Developments Ltd. (NB) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRK.B and NB?
On 3 years of weekly data the BRK.B/NB correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.20). The 5-year figure is n/a, and annualized covariance runs at -291.0 %².
Among the 31 assets we track against BRK.B, NB sits near the bottom by co-movement, at rank #27. On 12-month performance BRK.B holds a 7.2-point edge, +1.6% against -5.6%. Risk is not evenly split, since NB carries 5.7 times the volatility of the other side.
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.
BRK.B vs NB: side by side
| BRK.B (Berkshire Hathaway) | NB (NioCorp Developments Ltd.) | |
|---|---|---|
| 1-year return | +1.6% | -5.6% |
| 5-year return | +76.3% | n/a |
| Volatility (ann.) | 15.9% | 90.1% |
| Beta vs S&P 500 | 0.43 | 0.33 |
| Max drawdown (3Y) | -14.9% | -74.7% |
| Market cap | $1,078.3B | $0.6B |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BRK.B | NB |
|---|---|---|
| 2022 | +3.3% | – |
| 2023 | +15.5% | – |
| 2024 | +27.1% | -51.4% |
| 2025 | +10.9% | +241.9% |
| 2026 | +0.2% | -17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRK.B and NB good diversifiers for each other?
Yes. With a correlation of -0.20, BRK.B and NB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BRK.B and NB?
As of 2026-08-27, the correlation of weekly returns between BRK.B and NB is -0.20 over 3 years, -0.09 over 1 year and n/a over 5 years.
Is NB a good diversifier for BRK.B?
Yes. With a correlation of -0.20, BRK.B and NB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: BRK.B correlations · NB correlations
