NB vs OFG: Correlation
How closely do NioCorp Developments Ltd. (NB) and OFG Bancorp (OFG) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NB and OFG?
On 3 years of weekly data the NB/OFG correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.33 versus -0.19 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -466.1 %².
By 3-year correlation, OFG places #14 of the 23 assets tracked against NB. Correlation aside, the last 12 months split them widely, with OFG ahead by 24.4 points (-5.6% versus +18.8%). Note the risk asymmetry: NB runs 3.3 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.
NB vs OFG: side by side
| NB (NioCorp Developments Ltd.) | OFG (OFG Bancorp) | |
|---|---|---|
| 1-year return | -5.6% | +18.8% |
| 5-year return | n/a | +150.6% |
| Volatility (ann.) | 90.1% | 27.3% |
| Beta vs S&P 500 | 0.33 | 0.74 |
| Max drawdown (3Y) | -74.7% | -24.6% |
| Market cap | $0.6B | $2.2B |
| P/E (trailing) | – | 10.3 |
| Dividend yield | 0.00% | 2.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NB | OFG |
|---|---|---|
| 2022 | – | +6.5% |
| 2023 | – | +40.2% |
| 2024 | -51.4% | +15.8% |
| 2025 | +241.9% | -1.1% |
| 2026 | -17.5% | +29.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NB and OFG good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between NB and OFG?
The NB/OFG correlation stands at -0.19 on a 3-year window (1 year: -0.33, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is OFG a good diversifier for NB?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nb-vs-ofg.json
Embed this badge (it refreshes with the data), with attribution:
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NB correlations · OFG correlations
