NE vs PHIO: Correlation
Measured on weekly returns over the past three years, Noble Corporation plc A (NE) and Phio Pharmaceuticals Corp. (PHIO) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NE and PHIO?
Over the past 3 years, NE and PHIO moved with a correlation of 0.35, which is moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 1607.4 %².
Among the 16 assets we track against NE, PHIO ranks #10 by 3-year correlation. The last year tells two different stories: NE led by 116.9 percentage points, +72.1% for NE against -44.8% for PHIO. One caveat on sizing: PHIO is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PHIO: side by side
| NE (Noble Corporation plc A) | PHIO (Phio Pharmaceuticals Corp.) | |
|---|---|---|
| 1-year return | +72.1% | -44.8% |
| 5-year return | +134.0% | -99.5% |
| Volatility (ann.) | 40.7% | 113.9% |
| Beta vs S&P 500 | 0.96 | 1.91 |
| Max drawdown (3Y) | -63.2% | -96.3% |
| Market cap | $7.5B | – |
| P/E (trailing) | 48.2 | – |
| Dividend yield | 4.43% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NE | PHIO |
|---|---|---|
| 2022 | +52.0% | -62.8% |
| 2023 | +29.5% | -83.0% |
| 2024 | -31.6% | -73.7% |
| 2025 | -3.2% | -41.7% |
| 2026 | +69.2% | +6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NE and PHIO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NE and PHIO?
The NE/PHIO correlation stands at 0.35 on a 3-year window (1 year: 0.42, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is PHIO a good diversifier for NE?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NE correlations · PHIO correlations
