NB vs USAS: Correlation
How closely do NioCorp Developments Ltd. (NB) and Americas Gold and Silver Corporation (USAS) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NB and USAS?
On 3 years of weekly data the NB/USAS correlation comes out at 0.39, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.39 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 2930.4 %².
Among the 23 assets we track against NB, USAS ranks #5 by 3-year correlation. The last year tells two different stories: USAS led by 144.8 percentage points, -5.6% for NB against +139.2% for USAS.
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 USAS: side by side
| NB (NioCorp Developments Ltd.) | USAS (Americas Gold and Silver Corporation) | |
|---|---|---|
| 1-year return | -5.6% | +139.2% |
| 5-year return | n/a | +122.9% |
| Volatility (ann.) | 90.1% | 82.6% |
| Beta vs S&P 500 | 0.33 | 1.41 |
| Max drawdown (3Y) | -74.7% | -63.5% |
| Market cap | $0.6B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NB | USAS |
|---|---|---|
| 2022 | – | -29.6% |
| 2023 | – | -56.1% |
| 2024 | -51.4% | +52.0% |
| 2025 | +241.9% | +437.9% |
| 2026 | -17.5% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NB and USAS good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NB and USAS?
The NB/USAS correlation stands at 0.39 on a 3-year window (1 year: 0.54, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is USAS a good diversifier for NB?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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-usas.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nb-vs-usas/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NB correlations · USAS correlations
