HOOD vs NMG: Correlation
Measured on weekly returns over the past three years, Robinhood Markets (HOOD) and Nouveau Monde Graphite Inc. (NMG) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOOD and NMG?
Across a 3-year window, the weekly returns of HOOD and NMG correlate at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 2361.2 %².
Within HOOD's tracked universe of 39 assets, NMG comes in at #24 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HOOD ahead by 28.4 points (+6.6% versus -21.8%).
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 NMG: side by side
| HOOD (Robinhood Markets) | NMG (Nouveau Monde Graphite Inc.) | |
|---|---|---|
| 1-year return | +6.6% | -21.8% |
| 5-year return | +151.5% | -77.4% |
| Volatility (ann.) | 71.4% | 72.8% |
| Beta vs S&P 500 | 2.88 | 1.20 |
| Max drawdown (3Y) | -57.3% | -75.1% |
| Market cap | $98.7B | $0.5B |
| P/E (trailing) | 48.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HOOD | NMG |
|---|---|---|
| 2022 | -54.2% | -45.4% |
| 2023 | +56.5% | -31.7% |
| 2024 | +192.5% | -39.1% |
| 2025 | +203.5% | +56.0% |
| 2026 | -3.0% | -39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOOD and NMG good diversifiers for each other?
Reasonably. At 0.45, HOOD and NMG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HOOD and NMG?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.49 over the last year and 0.36 over 5 years.
Is NMG a good diversifier for HOOD?
Reasonably. At 0.45, HOOD and NMG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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
$ curl https://www.pairbook.io/api/v1/pairs/hood-vs-nmg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hood-vs-nmg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HOOD correlations · NMG correlations
