NG vs SNOA: Correlation
Novagold Resources Inc. (NG) and Sonoma Pharmaceuticals, Inc. (SNOA) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NG and SNOA?
On 3 years of weekly data the NG/SNOA correlation comes out at 0.39, moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.39 over 3. The 5-year figure is 0.34, and annualized covariance runs at 3587.0 %².
By 3-year correlation, SNOA places #7 of the 14 assets tracked against NG. The last year tells two different stories: NG led by 109.3 percentage points, +38.4% for NG against -70.9% for SNOA. Risk is not evenly split, since SNOA carries 1.8 times the volatility of the other side.
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.
NG vs SNOA: side by side
| NG (Novagold Resources Inc.) | SNOA (Sonoma Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +38.4% | -70.9% |
| 5-year return | +28.8% | -98.9% |
| Volatility (ann.) | 72.0% | 127.6% |
| Beta vs S&P 500 | 1.55 | 2.43 |
| Max drawdown (3Y) | -63.5% | -95.0% |
| Market cap | $4.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NG | SNOA |
|---|---|---|
| 2022 | -12.8% | -75.4% |
| 2023 | -37.5% | -83.9% |
| 2024 | -11.0% | -25.3% |
| 2025 | +179.9% | +35.3% |
| 2026 | -2.1% | -63.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NG and SNOA good diversifiers for each other?
Reasonably. At 0.39, NG and SNOA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NG and SNOA?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.37 over the last year and 0.34 over 5 years.
Is SNOA a good diversifier for NG?
Reasonably. At 0.39, NG and SNOA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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.
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Related comparisons
Hubs: NG correlations · SNOA correlations
