DOW vs NE: Correlation
How closely do Dow Inc. (DOW) and Noble Corporation plc A (NE) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOW and NE?
Over the past 3 years, DOW and NE moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 819.7 %².
Among the 32 assets we track against DOW, NE ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NE outperformed by 43.1 percentage points (+29.0% for DOW 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.
DOW vs NE: side by side
| DOW (Dow Inc.) | NE (Noble Corporation plc A) | |
|---|---|---|
| 1-year return | +29.0% | +72.1% |
| 5-year return | -38.4% | +134.0% |
| Volatility (ann.) | 35.2% | 40.7% |
| Beta vs S&P 500 | 0.62 | 0.96 |
| Max drawdown (3Y) | -62.2% | -63.2% |
| Market cap | $21.9B | $7.5B |
| P/E (trailing) | – | 48.2 |
| Dividend yield | 4.62% | 4.43% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | DOW | NE |
|---|---|---|
| 2022 | -6.6% | +52.0% |
| 2023 | +14.7% | +29.5% |
| 2024 | -22.8% | -31.6% |
| 2025 | -37.4% | -3.2% |
| 2026 | +32.6% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOW and NE good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DOW and NE?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.63 over the last year and 0.53 over 5 years.
Is NE a good diversifier for DOW?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 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/dow-vs-ne.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dow-vs-ne/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DOW correlations · NE correlations
