NE vs VAL: Correlation
Measured on weekly returns over the past three years, Noble Corporation plc A (NE) and Valaris Limited (VAL) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NE and VAL?
Across a 3-year window, the weekly returns of NE and VAL correlate at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.79 over 1 year against 0.80 over 3. Stretching to 5 years gives 0.78, with an annualized covariance of 1718.7 %².
Few assets follow NE as closely as VAL, which ranks #1 of 16 tracked partners. Their 12-month results are close: +72.1% for NE against +73.3% for VAL.
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 VAL: side by side
| NE (Noble Corporation plc A) | VAL (Valaris Limited) | |
|---|---|---|
| 1-year return | +72.1% | +73.3% |
| 5-year return | +134.0% | +200.2% |
| Volatility (ann.) | 40.7% | 52.9% |
| Beta vs S&P 500 | 0.96 | 0.77 |
| Max drawdown (3Y) | -63.2% | -63.8% |
| Market cap | $7.5B | $5.9B |
| P/E (trailing) | 48.2 | 6.3 |
| Dividend yield | 4.43% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NE | VAL |
|---|---|---|
| 2022 | +52.0% | +87.8% |
| 2023 | +29.5% | +1.4% |
| 2024 | -31.6% | -35.5% |
| 2025 | -3.2% | +13.9% |
| 2026 | +69.2% | +69.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NE and VAL good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between NE and VAL?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.79 over the last year and 0.78 over 5 years.
Is VAL a good diversifier for NE?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 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-val.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ne-vs-val/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NE correlations · VAL correlations
