NB vs UPS: Correlation
NioCorp Developments Ltd. (NB) and United Parcel Service (UPS) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NB and UPS?
On 3 years of weekly data the NB/UPS correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.00 versus -0.19 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -504.8 %².
Within NB's tracked universe of 23 assets, UPS comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UPS ahead by 33.8 points (-5.6% versus +28.2%). Risk is not evenly split, since NB carries 3.1 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 UPS: side by side
| NB (NioCorp Developments Ltd.) | UPS (United Parcel Service) | |
|---|---|---|
| 1-year return | -5.6% | +28.2% |
| 5-year return | n/a | -31.0% |
| Volatility (ann.) | 90.1% | 29.4% |
| Beta vs S&P 500 | 0.33 | 0.81 |
| Max drawdown (3Y) | -74.7% | -46.5% |
| Market cap | $0.6B | $89.9B |
| P/E (trailing) | – | 19.6 |
| Dividend yield | 0.00% | 6.21% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | NB | UPS |
|---|---|---|
| 2022 | – | -16.2% |
| 2023 | – | -6.0% |
| 2024 | -51.4% | -15.9% |
| 2025 | +241.9% | -15.9% |
| 2026 | -17.5% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NB and UPS good diversifiers for each other?
Yes. With a correlation of -0.19, NB and UPS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NB and UPS?
The NB/UPS correlation stands at -0.19 on a 3-year window (1 year: -0.00, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is UPS a good diversifier for NB?
Yes. With a correlation of -0.19, NB and UPS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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-ups.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nb-vs-ups/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NB correlations · UPS correlations
