ERIE vs NOC: Correlation
Measured on weekly returns over the past three years, Erie Indemnity (ERIE) and Northrop Grumman (NOC) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERIE and NOC?
Over the past 3 years, ERIE and NOC moved with a correlation of 0.37, which is moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 298.6 %².
By 3-year correlation, NOC places #19 of the 33 assets tracked against ERIE. The last year tells two different stories: NOC led by 18.9 percentage points, -24.5% for ERIE against -5.6% for NOC. This link changes with the market regime, having swung between -0.10 and 0.66 on a rolling one-year basis.
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.
ERIE vs NOC: side by side
| ERIE (Erie Indemnity) | NOC (Northrop Grumman) | |
|---|---|---|
| 1-year return | -24.5% | -5.6% |
| 5-year return | +61.3% | +60.1% |
| Volatility (ann.) | 30.3% | 26.7% |
| Beta vs S&P 500 | 0.37 | 0.24 |
| Max drawdown (3Y) | -60.9% | -35.1% |
| Market cap | $13.6B | $77.4B |
| P/E (trailing) | 23.4 | 17.5 |
| Dividend yield | 2.24% | 1.71% |
| Sector / category | Financials | Industrials |
Year-by-year returns
| Year | ERIE | NOC |
|---|---|---|
| 2022 | +32.0% | +43.0% |
| 2023 | +37.3% | -12.8% |
| 2024 | +24.7% | +1.9% |
| 2025 | -29.4% | +23.6% |
| 2026 | -8.0% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERIE and NOC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ERIE and NOC?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.32 over the last year and 0.27 over 5 years.
Is NOC a good diversifier for ERIE?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
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/erie-vs-noc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/erie-vs-noc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERIE correlations · NOC correlations
