NB vs NSC: Correlation
Measured on weekly returns over the past three years, NioCorp Developments Ltd. (NB) and Norfolk Southern (NSC) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NB and NSC?
On 3 years of weekly data the NB/NSC correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.13 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -331.7 %².
Within NB's tracked universe of 23 assets, NSC comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NSC ahead by 35.6 points (-5.6% versus +30.0%). Risk is not evenly split, since NB carries 4.1 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.
NB vs NSC: side by side
| NB (NioCorp Developments Ltd.) | NSC (Norfolk Southern) | |
|---|---|---|
| 1-year return | -5.6% | +30.0% |
| 5-year return | n/a | +49.6% |
| Volatility (ann.) | 90.1% | 22.0% |
| Beta vs S&P 500 | 0.33 | 0.69 |
| Max drawdown (3Y) | -74.7% | -25.1% |
| Market cap | $0.6B | $78.1B |
| P/E (trailing) | – | 30.1 |
| Dividend yield | 0.00% | 1.53% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | NB | NSC |
|---|---|---|
| 2022 | – | -15.6% |
| 2023 | – | -1.6% |
| 2024 | -51.4% | +1.6% |
| 2025 | +241.9% | +25.6% |
| 2026 | -17.5% | +22.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NB and NSC 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 NB and NSC?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.13 over the last year and n/a over 5 years.
Is NSC a good diversifier for NB?
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?
A reading of -0.17 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nb-vs-nsc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nb-vs-nsc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NB correlations · NSC correlations
