HII vs NOC: Correlation
How closely do Huntington Ingalls Industries (HII) and Northrop Grumman (NOC) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HII and NOC?
On 3 years of weekly data the HII/NOC correlation comes out at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 514.3 %².
NOC is one of the assets that tracks HII most closely: it ranks #2 out of the 28 assets we track against HII. The last year tells two different stories: HII led by 15.0 percentage points, +9.4% for HII against -5.6% for NOC. On a rolling one-year basis the correlation drifted between 0.35 and 0.79, a moderate band.
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.
HII vs NOC: side by side
| HII (Huntington Ingalls Industries) | NOC (Northrop Grumman) | |
|---|---|---|
| 1-year return | +9.4% | -5.6% |
| 5-year return | +59.2% | +60.1% |
| Volatility (ann.) | 35.3% | 26.7% |
| Beta vs S&P 500 | 0.84 | 0.24 |
| Max drawdown (3Y) | -45.2% | -35.1% |
| Market cap | $11.7B | $77.4B |
| P/E (trailing) | 17.7 | 17.5 |
| Dividend yield | 1.85% | 1.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | HII | NOC |
|---|---|---|
| 2022 | +26.3% | +43.0% |
| 2023 | +15.2% | -12.8% |
| 2024 | -25.7% | +1.9% |
| 2025 | +84.2% | +23.6% |
| 2026 | -11.9% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HII and NOC good diversifiers for each other?
Only partially. A correlation of 0.55 means HII and NOC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HII and NOC?
As of 2026-08-27, the correlation of weekly returns between HII and NOC is 0.55 over 3 years, 0.56 over 1 year and 0.61 over 5 years.
Is NOC a good diversifier for HII?
Only partially. A correlation of 0.55 means HII and NOC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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.
Use this data
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Related comparisons
Hubs: HII correlations · NOC correlations
