HOOD vs NBXG: Correlation
Robinhood Markets (HOOD) and Neuberger Next Generation Connectivity Fund Inc. (NBXG) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOOD and NBXG?
On 3 years of weekly data the HOOD/NBXG correlation comes out at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 933.5 %².
Among the 39 assets we track against HOOD, NBXG ranks #13 by 3-year correlation. The trailing year gives NBXG the advantage: +6.6% versus +13.8%, a 7.2-point spread. Risk is not evenly split, since HOOD carries 3.2 times the volatility of the other side.
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.
HOOD vs NBXG: side by side
| HOOD (Robinhood Markets) | NBXG (Neuberger Next Generation Connectivity Fund Inc.) | |
|---|---|---|
| 1-year return | +6.6% | +13.8% |
| 5-year return | +151.5% | +25.6% |
| Volatility (ann.) | 71.4% | 22.4% |
| Beta vs S&P 500 | 2.88 | 1.28 |
| Max drawdown (3Y) | -57.3% | -22.1% |
| Market cap | $98.7B | $1.2B |
| P/E (trailing) | 48.1 | 3.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HOOD | NBXG |
|---|---|---|
| 2022 | -54.2% | -41.4% |
| 2023 | +56.5% | +34.9% |
| 2024 | +192.5% | +28.5% |
| 2025 | +203.5% | +24.2% |
| 2026 | -3.0% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOOD and NBXG good diversifiers for each other?
Only partially. A correlation of 0.58 means HOOD and NBXG 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 HOOD and NBXG?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.67 over the last year and 0.57 over 5 years.
Is NBXG a good diversifier for HOOD?
Only partially. A correlation of 0.58 means HOOD and NBXG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 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/hood-vs-nbxg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hood-vs-nbxg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HOOD correlations · NBXG correlations
