FRNM vs NOC: Correlation
How closely do Freenome, Inc. (FRNM) and Northrop Grumman (NOC) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and NOC?
Across a 3-year window, the weekly returns of FRNM and NOC correlate at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.21 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -118.4 %².
Among the 34 assets we track against FRNM, NOC ranks #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FRNM ahead by 37.9 points (+32.3% versus -5.6%).
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.
FRNM vs NOC: side by side
| FRNM (Freenome, Inc.) | NOC (Northrop Grumman) | |
|---|---|---|
| 1-year return | +32.3% | -5.6% |
| 5-year return | n/a | +60.1% |
| Volatility (ann.) | 21.1% | 26.7% |
| Beta vs S&P 500 | 0.03 | 0.24 |
| Max drawdown (3Y) | -29.6% | -35.1% |
| Market cap | $1.5B | $77.4B |
| P/E (trailing) | – | 17.5 |
| Dividend yield | 0.00% | 1.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FRNM | NOC |
|---|---|---|
| 2022 | – | +43.0% |
| 2023 | – | -12.8% |
| 2024 | – | +1.9% |
| 2025 | +28.0% | +23.6% |
| 2026 | +7.0% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and NOC good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between FRNM and NOC?
As of 2026-08-27, the correlation of weekly returns between FRNM and NOC is -0.21 over 3 years, -0.27 over 1 year and n/a over 5 years.
Is NOC a good diversifier for FRNM?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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/frnm-vs-noc.json
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Related comparisons
Hubs: FRNM correlations · NOC correlations
