IDR vs NB: Correlation
Measured on weekly returns over the past three years, Idaho Strategic Resources, Inc. (IDR) and NioCorp Developments Ltd. (NB) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDR and NB?
On 3 years of weekly data the IDR/NB correlation comes out at 0.43, moderate. The link has tightened recently: the 1-year correlation (0.65) runs above the 3-year figure (0.43). The 5-year figure is n/a, and annualized covariance runs at 2818.3 %².
By 3-year correlation, NB places #6 of the 18 assets tracked against IDR. Correlation aside, the last 12 months split them widely, with IDR ahead by 31.9 points (+26.3% 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.
IDR vs NB: side by side
| IDR (Idaho Strategic Resources, Inc.) | NB (NioCorp Developments Ltd.) | |
|---|---|---|
| 1-year return | +26.3% | -5.6% |
| 5-year return | +702.8% | n/a |
| Volatility (ann.) | 73.6% | 90.1% |
| Beta vs S&P 500 | 0.68 | 0.33 |
| Max drawdown (3Y) | -50.0% | -74.7% |
| Market cap | $0.5B | $0.6B |
| P/E (trailing) | 22.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IDR | NB |
|---|---|---|
| 2022 | -23.4% | – |
| 2023 | +11.1% | – |
| 2024 | +61.0% | -51.4% |
| 2025 | +295.5% | +241.9% |
| 2026 | -16.1% | -17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDR and NB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IDR and NB?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.65 over the last year and n/a over 5 years.
Is NB a good diversifier for IDR?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/idr-vs-nb.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: IDR correlations · NB correlations
