NB vs USAR: Correlation
How closely do NioCorp Developments Ltd. (NB) and USA Rare Earth, Inc. (USAR) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NB and USAR?
Over the past 3 years, NB and USAR moved with a correlation of 0.42, which is moderate. The past 12 months show a tighter link (0.72) than the 3-year average (0.42). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 3688.4 %².
Few assets follow NB as closely as USAR, which ranks #2 of 23 tracked partners. Correlation aside, the last 12 months split them widely, with USAR ahead by 28.3 points (-5.6% versus +22.7%).
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 USAR: side by side
| NB (NioCorp Developments Ltd.) | USAR (USA Rare Earth, Inc.) | |
|---|---|---|
| 1-year return | -5.6% | +22.7% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 90.1% | 98.3% |
| Beta vs S&P 500 | 0.33 | -0.14 |
| Max drawdown (3Y) | -74.7% | -69.2% |
| Market cap | $0.6B | $4.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NB | USAR |
|---|---|---|
| 2024 | -51.4% | +11.1% |
| 2025 | +241.9% | +3.7% |
| 2026 | -17.5% | +61.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NB and USAR good diversifiers for each other?
Reasonably. At 0.42, NB and USAR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NB and USAR?
As of 2026-08-27, the correlation of weekly returns between NB and USAR is 0.42 over 3 years, 0.72 over 1 year and n/a over 5 years.
Is USAR a good diversifier for NB?
Reasonably. At 0.42, NB and USAR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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-usar.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nb-vs-usar/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NB correlations · USAR correlations
