NWPX vs ORN: Correlation
NWPX Infrastructure, Inc. (NWPX) and Orion Group Holdings, Inc. Common (ORN) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWPX and ORN?
On 3 years of weekly data the NWPX/ORN correlation comes out at 0.49, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.70 versus 0.49 over 3 years. The 5-year figure is 0.37, and annualized covariance runs at 1206.1 %².
Among the 12 assets we track against NWPX, ORN ranks #6 by 3-year correlation. The last year tells two different stories: NWPX led by 79.5 percentage points, +114.1% for NWPX against +34.6% for ORN. Note the risk asymmetry: ORN runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NWPX vs ORN: side by side
| NWPX (NWPX Infrastructure, Inc.) | ORN (Orion Group Holdings, Inc. Common) | |
|---|---|---|
| 1-year return | +114.1% | +34.6% |
| 5-year return | +340.7% | +77.6% |
| Volatility (ann.) | 37.8% | 65.3% |
| Beta vs S&P 500 | 0.95 | 1.64 |
| Max drawdown (3Y) | -35.4% | -57.6% |
| Market cap | $1.1B | $0.4B |
| P/E (trailing) | 23.1 | 121.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWPX | ORN |
|---|---|---|
| 2022 | +6.0% | -36.9% |
| 2023 | -10.2% | +107.6% |
| 2024 | +59.5% | +48.4% |
| 2025 | +29.5% | +35.6% |
| 2026 | +82.9% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWPX and ORN good diversifiers for each other?
Reasonably. At 0.49, NWPX and ORN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NWPX and ORN?
As of 2026-08-27, the correlation of weekly returns between NWPX and ORN is 0.49 over 3 years, 0.70 over 1 year and 0.37 over 5 years.
Is ORN a good diversifier for NWPX?
Reasonably. At 0.49, NWPX and ORN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/nwpx-vs-orn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nwpx-vs-orn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NWPX correlations · ORN correlations
