NB vs OKE: Correlation
How closely do NioCorp Developments Ltd. (NB) and Oneok (OKE) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NB and OKE?
Across a 3-year window, the weekly returns of NB and OKE correlate at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -657.9 %².
OKE is close to the least connected end of NB's tracked universe, ranking #22 of 23. Their recent paths diverged sharply: over the last 12 months OKE outperformed by 38.6 percentage points (-5.6% for NB against +33.0% for OKE). One caveat on sizing: NB is 3.1 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.
NB vs OKE: side by side
| NB (NioCorp Developments Ltd.) | OKE (Oneok) | |
|---|---|---|
| 1-year return | -5.6% | +33.0% |
| 5-year return | n/a | +134.0% |
| Volatility (ann.) | 90.1% | 28.7% |
| Beta vs S&P 500 | 0.33 | 0.42 |
| Max drawdown (3Y) | -74.7% | -42.2% |
| Market cap | $0.6B | $59.7B |
| P/E (trailing) | – | 16.4 |
| Dividend yield | 0.00% | 4.47% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | NB | OKE |
|---|---|---|
| 2022 | – | +18.9% |
| 2023 | – | +13.2% |
| 2024 | -51.4% | +50.1% |
| 2025 | +241.9% | -22.9% |
| 2026 | -17.5% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NB and OKE good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NB and OKE?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.25 over the last year and n/a over 5 years.
Is OKE a good diversifier for NB?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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-oke.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nb-vs-oke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NB correlations · OKE correlations
