ICCM vs NE: Correlation
IceCure Medical Ltd. (ICCM) and Noble Corporation plc A (NE) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCM and NE?
Across a 3-year window, the weekly returns of ICCM and NE correlate at -0.17, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.17). Stretching to 5 years gives -0.06, with an annualized covariance of -823.7 %².
By 3-year correlation, NE places #9 of the 41 assets tracked against ICCM. The last year tells two different stories: NE led by 164.4 percentage points, -92.3% for ICCM against +72.1% for NE. Note the risk asymmetry: ICCM runs 2.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ICCM vs NE: side by side
| ICCM (IceCure Medical Ltd.) | NE (Noble Corporation plc A) | |
|---|---|---|
| 1-year return | -92.3% | +72.1% |
| 5-year return | -99.3% | +134.0% |
| Volatility (ann.) | 117.6% | 40.7% |
| Beta vs S&P 500 | 0.41 | 0.96 |
| Max drawdown (3Y) | -95.4% | -63.2% |
| Market cap | – | $7.5B |
| P/E (trailing) | – | 48.2 |
| Dividend yield | 0.00% | 4.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICCM | NE |
|---|---|---|
| 2022 | -49.2% | +52.0% |
| 2023 | -31.0% | +29.5% |
| 2024 | +2.8% | -31.6% |
| 2025 | -44.5% | -3.2% |
| 2026 | -87.5% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and NE good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ICCM and NE?
The ICCM/NE correlation stands at -0.17 on a 3-year window (1 year: -0.33, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is NE a good diversifier for ICCM?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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/iccm-vs-ne.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iccm-vs-ne/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ICCM correlations · NE correlations
