NB vs TRGP: Correlation
How closely do NioCorp Developments Ltd. (NB) and Targa Resources (TRGP) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NB and TRGP?
On 3 years of weekly data the NB/TRGP correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.20). The 5-year figure is n/a, and annualized covariance runs at -560.4 %².
Within NB's tracked universe of 23 assets, TRGP comes in at #18 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRGP outperformed by 84.3 percentage points (-5.6% for NB against +78.7% for TRGP). Risk is not evenly split, since NB carries 2.9 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.
NB vs TRGP: side by side
| NB (NioCorp Developments Ltd.) | TRGP (Targa Resources) | |
|---|---|---|
| 1-year return | -5.6% | +78.7% |
| 5-year return | n/a | +626.8% |
| Volatility (ann.) | 90.1% | 31.5% |
| Beta vs S&P 500 | 0.33 | 0.44 |
| Max drawdown (3Y) | -74.7% | -31.6% |
| Market cap | $0.6B | $62.0B |
| P/E (trailing) | – | 28.1 |
| Dividend yield | 0.00% | 1.53% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | NB | TRGP |
|---|---|---|
| 2022 | – | +43.7% |
| 2023 | – | +21.0% |
| 2024 | -51.4% | +110.1% |
| 2025 | +241.9% | +5.7% |
| 2026 | -17.5% | +58.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NB and TRGP good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between NB and TRGP?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.34 over the last year and n/a over 5 years.
Is TRGP a good diversifier for NB?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nb-vs-trgp.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: NB correlations · TRGP correlations
