NFE vs ORBS: Correlation
New Fortress Energy Inc. (NFE) and Eightco Holdings Inc. (ORBS) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NFE and ORBS?
Across a 3-year window, the weekly returns of NFE and ORBS correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.24 over 3 years. Stretching to 5 years gives -0.22, with an annualized covariance of -14809.8 %².
Among the 11 assets we track against NFE, ORBS sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months ORBS outperformed by 43.4 percentage points (-88.3% for NFE against -44.9% for ORBS). One caveat on sizing: ORBS is 5.3 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.
NFE vs ORBS: side by side
| NFE (New Fortress Energy Inc.) | ORBS (Eightco Holdings Inc.) | |
|---|---|---|
| 1-year return | -88.3% | -44.9% |
| 5-year return | -98.8% | -100.0% |
| Volatility (ann.) | 109.0% | 575.8% |
| Beta vs S&P 500 | 1.67 | 3.91 |
| Max drawdown (3Y) | -99.3% | -98.7% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NFE | ORBS |
|---|---|---|
| 2022 | +77.4% | – |
| 2023 | -3.1% | -94.6% |
| 2024 | -59.2% | -14.8% |
| 2025 | -92.5% | -21.0% |
| 2026 | -73.2% | -52.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NFE and ORBS good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between NFE and ORBS?
The NFE/ORBS correlation stands at -0.24 on a 3-year window (1 year: -0.35, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is ORBS a good diversifier for NFE?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nfe-vs-orbs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nfe-vs-orbs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NFE correlations · ORBS correlations
