NDLS vs PRAA: Correlation
Noodles & Company (NDLS) and PRA Group, Inc. (PRAA) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NDLS and PRAA?
Across a 3-year window, the weekly returns of NDLS and PRAA correlate at 0.30, moderate. Recent behaviour matches the longer record: 0.23 over 1 year against 0.30 over 3. Stretching to 5 years gives 0.30, with an annualized covariance of 1836.4 %².
Among the 10 assets we track against NDLS, PRAA ranks #5 by 3-year correlation. The last year tells two different stories: NDLS led by 147.1 percentage points, +160.0% for NDLS against +12.9% for PRAA. Note the risk asymmetry: NDLS runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NDLS vs PRAA: side by side
| NDLS (Noodles & Company) | PRAA (PRA Group, Inc.) | |
|---|---|---|
| 1-year return | +160.0% | +12.9% |
| 5-year return | -85.0% | -53.3% |
| Volatility (ann.) | 98.0% | 62.0% |
| Beta vs S&P 500 | 1.03 | 1.15 |
| Max drawdown (3Y) | -85.6% | -62.8% |
| Market cap | $0.1B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NDLS | PRAA |
|---|---|---|
| 2022 | -39.5% | -32.7% |
| 2023 | -42.6% | -22.4% |
| 2024 | -81.6% | -20.3% |
| 2025 | +22.4% | -15.3% |
| 2026 | +160.0% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NDLS and PRAA good diversifiers for each other?
Reasonably. At 0.30, NDLS and PRAA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NDLS and PRAA?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.23 over the last year and 0.30 over 5 years.
Is PRAA a good diversifier for NDLS?
Reasonably. At 0.30, NDLS and PRAA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ndls-vs-praa.json
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Related comparisons
Hubs: NDLS correlations · PRAA correlations
