EARN vs NBIX: Correlation
Measured on weekly returns over the past three years, Ellington Credit Company (EARN) and Neurocrine Biosciences, Inc. (NBIX) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EARN and NBIX?
Across a 3-year window, the weekly returns of EARN and NBIX correlate at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.40). Stretching to 5 years gives 0.28, with an annualized covariance of 312.7 %².
Out of 14 assets tracked against EARN, NBIX lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months NBIX outperformed by 20.8 percentage points (-7.9% for EARN against +12.9% for NBIX).
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.
EARN vs NBIX: side by side
| EARN (Ellington Credit Company) | NBIX (Neurocrine Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -7.9% | +12.9% |
| 5-year return | -17.5% | +62.5% |
| Volatility (ann.) | 24.8% | 31.8% |
| Beta vs S&P 500 | 0.92 | 0.60 |
| Max drawdown (3Y) | -31.2% | -42.9% |
| Market cap | $0.2B | $15.8B |
| P/E (trailing) | 15.9 | 22.9 |
| Dividend yield | 21.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EARN | NBIX |
|---|---|---|
| 2022 | -25.0% | +40.2% |
| 2023 | +3.0% | +10.3% |
| 2024 | +24.6% | +3.6% |
| 2025 | -5.9% | +3.9% |
| 2026 | -5.0% | +9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EARN and NBIX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EARN and NBIX?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.26 over the last year and 0.28 over 5 years.
Is NBIX a good diversifier for EARN?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: EARN correlations · NBIX correlations
