NE vs RIG: Correlation
Measured on weekly returns over the past three years, Noble Corporation plc A (NE) and Transocean Ltd (Switzerland) (RIG) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NE and RIG?
Across a 3-year window, the weekly returns of NE and RIG correlate at 0.79, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 1661.1 %².
RIG is one of the assets that tracks NE most closely: it ranks #2 out of the 16 assets we track against NE. On 12-month performance RIG holds a 9.0-point edge, +72.1% against +81.1%.
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 RIG: side by side
| NE (Noble Corporation plc A) | RIG (Transocean Ltd (Switzerland)) | |
|---|---|---|
| 1-year return | +72.1% | +81.1% |
| 5-year return | +134.0% | +61.7% |
| Volatility (ann.) | 40.7% | 51.9% |
| Beta vs S&P 500 | 0.96 | 0.93 |
| Max drawdown (3Y) | -63.2% | -75.5% |
| Market cap | $7.5B | $6.4B |
| P/E (trailing) | 48.2 | – |
| Dividend yield | 4.43% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NE | RIG |
|---|---|---|
| 2022 | +52.0% | +65.2% |
| 2023 | +29.5% | +39.3% |
| 2024 | -31.6% | -40.9% |
| 2025 | -3.2% | +10.1% |
| 2026 | +69.2% | +39.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NE and RIG good diversifiers for each other?
Only partially. A correlation of 0.79 means NE and RIG 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 RIG?
The NE/RIG correlation stands at 0.79 on a 3-year window (1 year: 0.77, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is RIG a good diversifier for NE?
Only partially. A correlation of 0.79 means NE and RIG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 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-rig.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ne-vs-rig/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NE correlations · RIG correlations
