NB vs WFC: Correlation
NioCorp Developments Ltd. (NB) and Wells Fargo (WFC) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NB and WFC?
On 3 years of weekly data the NB/WFC correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -458.1 %².
By 3-year correlation, WFC places #13 of the 23 assets tracked against NB. On 12-month performance WFC holds a 10.8-point edge, -5.6% against +5.2%. Risk is not evenly split, since NB carries 3.0 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 WFC: side by side
| NB (NioCorp Developments Ltd.) | WFC (Wells Fargo) | |
|---|---|---|
| 1-year return | -5.6% | +5.2% |
| 5-year return | n/a | +98.3% |
| Volatility (ann.) | 90.1% | 29.7% |
| Beta vs S&P 500 | 0.33 | 0.98 |
| Max drawdown (3Y) | -74.7% | -24.7% |
| Market cap | $0.6B | $256.9B |
| P/E (trailing) | – | 12.4 |
| Dividend yield | 0.00% | 2.11% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | NB | WFC |
|---|---|---|
| 2022 | – | -11.9% |
| 2023 | – | +22.9% |
| 2024 | -51.4% | +46.5% |
| 2025 | +241.9% | +35.6% |
| 2026 | -17.5% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NB and WFC good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NB and WFC?
The NB/WFC correlation stands at -0.17 on a 3-year window (1 year: -0.12, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WFC a good diversifier for NB?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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.
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Related comparisons
Hubs: NB correlations · WFC correlations
