CASY vs NE: Correlation
Measured on weekly returns over the past three years, Casey's (CASY) and Noble Corporation plc A (NE) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CASY and NE?
On 3 years of weekly data the CASY/NE correlation comes out at 0.33, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. The 5-year figure is 0.28, and annualized covariance runs at 393.8 %².
By 3-year correlation, NE places #8 of the 30 assets tracked against CASY. Their recent paths diverged sharply: over the last 12 months NE outperformed by 18.4 percentage points (+53.7% for CASY against +72.1% for NE).
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.
CASY vs NE: side by side
| CASY (Casey's) | NE (Noble Corporation plc A) | |
|---|---|---|
| 1-year return | +53.7% | +72.1% |
| 5-year return | +284.3% | +134.0% |
| Volatility (ann.) | 28.9% | 40.7% |
| Beta vs S&P 500 | 0.39 | 0.96 |
| Max drawdown (3Y) | -16.6% | -63.2% |
| Market cap | $28.2B | $7.5B |
| P/E (trailing) | 42.2 | 48.2 |
| Dividend yield | 0.28% | 4.43% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | CASY | NE |
|---|---|---|
| 2022 | +14.5% | +52.0% |
| 2023 | +23.3% | +29.5% |
| 2024 | +45.0% | -31.6% |
| 2025 | +40.1% | -3.2% |
| 2026 | +38.4% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CASY and NE good diversifiers for each other?
Reasonably. At 0.33, CASY and NE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CASY and NE?
The CASY/NE correlation stands at 0.33 on a 3-year window (1 year: 0.40, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is NE a good diversifier for CASY?
Reasonably. At 0.33, CASY and NE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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/casy-vs-ne.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/casy-vs-ne/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CASY correlations · NE correlations
