NE vs NOV: Correlation
Noble Corporation plc A (NE) and NOV Inc. (NOV) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NE and NOV?
On 3 years of weekly data the NE/NOV correlation comes out at 0.70, strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 1010.1 %².
Within NE's tracked universe of 16 assets, NOV comes in at #4 by 3-year correlation. The trailing year gives NE the advantage: +72.1% versus +62.2%, a 9.9-point spread.
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.
NE vs NOV: side by side
| NE (Noble Corporation plc A) | NOV (NOV Inc.) | |
|---|---|---|
| 1-year return | +72.1% | +62.2% |
| 5-year return | +134.0% | +71.8% |
| Volatility (ann.) | 40.7% | 35.6% |
| Beta vs S&P 500 | 0.96 | 0.61 |
| Max drawdown (3Y) | -63.2% | -47.2% |
| Market cap | $7.5B | $7.4B |
| P/E (trailing) | 48.2 | 74.1 |
| Dividend yield | 4.43% | 1.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NE | NOV |
|---|---|---|
| 2022 | +52.0% | +55.7% |
| 2023 | +29.5% | -1.8% |
| 2024 | -31.6% | -26.8% |
| 2025 | -3.2% | +11.3% |
| 2026 | +69.2% | +34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NE and NOV good diversifiers for each other?
Only partially. A correlation of 0.70 means NE and NOV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NE and NOV?
The NE/NOV correlation stands at 0.70 on a 3-year window (1 year: 0.60, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is NOV a good diversifier for NE?
Only partially. A correlation of 0.70 means NE and NOV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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/ne-vs-nov.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: NE correlations · NOV correlations
