JPM vs NB: Correlation
JPMorgan Chase (JPM) and NioCorp Developments Ltd. (NB) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JPM and NB?
Over the past 3 years, JPM and NB moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.03) runs above the 3-year figure (-0.16). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -341.4 %².
Within JPM's tracked universe of 36 assets, NB comes in at #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with JPM ahead by 26.2 points (+20.6% versus -5.6%). Risk is not evenly split, since NB carries 3.9 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.
JPM vs NB: side by side
| JPM (JPMorgan Chase) | NB (NioCorp Developments Ltd.) | |
|---|---|---|
| 1-year return | +20.6% | -5.6% |
| 5-year return | +150.2% | n/a |
| Volatility (ann.) | 23.2% | 90.1% |
| Beta vs S&P 500 | 1.01 | 0.33 |
| Max drawdown (3Y) | -24.4% | -74.7% |
| Market cap | $941.6B | $0.6B |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 1.68% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | JPM | NB |
|---|---|---|
| 2022 | -12.6% | – |
| 2023 | +30.6% | – |
| 2024 | +44.3% | -51.4% |
| 2025 | +37.3% | +241.9% |
| 2026 | +11.5% | -17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JPM and NB good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between JPM and NB?
The JPM/NB correlation stands at -0.16 on a 3-year window (1 year: 0.03, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NB a good diversifier for JPM?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: JPM correlations · NB correlations
