NMAD vs ORIO: Correlation
Nomad Power Solutions, Inc. (NMAD) and Orion Digital Corp. (ORIO) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NMAD and ORIO?
On 3 years of weekly data the NMAD/ORIO correlation comes out at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.54 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 8490.9 %².
Few assets follow NMAD as closely as ORIO, which ranks #2 of 14 tracked partners. Correlation aside, the last 12 months split them widely, with NMAD ahead by 83.9 points (+29.2% versus -54.7%). One caveat on sizing: NMAD is 2.5 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.
NMAD vs ORIO: side by side
| NMAD (Nomad Power Solutions, Inc.) | ORIO (Orion Digital Corp.) | |
|---|---|---|
| 1-year return | +29.2% | -54.7% |
| 5-year return | -80.2% | -94.6% |
| Volatility (ann.) | 197.9% | 79.6% |
| Beta vs S&P 500 | 0.82 | 2.19 |
| Max drawdown (3Y) | -80.8% | -75.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NMAD | ORIO |
|---|---|---|
| 2022 | -57.1% | -84.5% |
| 2023 | -53.9% | +15.9% |
| 2024 | -13.6% | -26.1% |
| 2025 | +93.6% | -21.3% |
| 2026 | +12.5% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NMAD and ORIO good diversifiers for each other?
Only partially. A correlation of 0.54 means NMAD and ORIO 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 NMAD and ORIO?
The NMAD/ORIO correlation stands at 0.54 on a 3-year window (1 year: 0.20, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is ORIO a good diversifier for NMAD?
Only partially. A correlation of 0.54 means NMAD and ORIO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 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/nmad-vs-orio.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nmad-vs-orio/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NMAD correlations · ORIO correlations
