KMI vs NB: Correlation
Measured on weekly returns over the past three years, Kinder Morgan (KMI) and NioCorp Developments Ltd. (NB) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KMI and NB?
Over the past 3 years, KMI and NB moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -598.8 %².
NB is close to the least connected end of KMI's tracked universe, ranking #33 of 33. Correlation aside, the last 12 months split them widely, with KMI ahead by 27.9 points (+22.3% versus -5.6%). One caveat on sizing: NB is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
KMI vs NB: side by side
| KMI (Kinder Morgan) | NB (NioCorp Developments Ltd.) | |
|---|---|---|
| 1-year return | +22.3% | -5.6% |
| 5-year return | +153.0% | n/a |
| Volatility (ann.) | 22.1% | 90.1% |
| Beta vs S&P 500 | 0.29 | 0.33 |
| Max drawdown (3Y) | -18.4% | -74.7% |
| Market cap | $70.2B | $0.6B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 3.69% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | KMI | NB |
|---|---|---|
| 2022 | +21.2% | – |
| 2023 | +4.1% | – |
| 2024 | +64.4% | -51.4% |
| 2025 | +4.8% | +241.9% |
| 2026 | +18.0% | -17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KMI and NB good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KMI and NB?
As of 2026-08-27, the correlation of weekly returns between KMI and NB is -0.30 over 3 years, -0.20 over 1 year and n/a over 5 years.
Is NB a good diversifier for KMI?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: KMI correlations · NB correlations
