Noble Corporation plc (NE) — Stock Correlations & Overview
Over the past year, NE has moved most closely with VAL, PXJ, SDRL. Explore the stocks most correlated and inversely correlated with NE below, along with its price, financials, and company profile.
Stocks correlated with NE
Correlation of daily returns. Higher positive values move with NE; negative values move opposite it. Informational only, not investment advice.
Most correlated with NE
| Symbol | Company | Correlation |
|---|---|---|
| VAL | Valaris LimitedDRILLING OIL & GAS WELLS | 0.76 |
| PXJ | Invesco Oil & Gas Services ETF | 0.76 |
| SDRL | Seadrill LimitedDRILLING OIL & GAS WELLS | 0.75 |
| XES | State Street SPDR S&P Oil & Gas Equipment & Services ETF | 0.75 |
| PSCE | Invesco S&P SmallCap Energy ETFINVESTMENT ADVICE | 0.73 |
Most inversely correlated with NE
| Symbol | Company | Correlation |
|---|---|---|
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.62 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.61 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.60 |
| DUG | ProShares UltraShort Energy | -0.60 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.58 |
Frequently asked questions about NE correlations
- Which stocks are most correlated with NE?
- Based on one year of daily returns, the stocks most correlated with Noble Corporation plc (NE) are VAL (0.76), PXJ (0.76) and SDRL (0.75). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with NE?
- Over the past year, the stocks most inversely correlated with Noble Corporation plc (NE) are OILD (-0.62), DRIP (-0.61) and ERY (-0.60). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these NE correlations calculated?
- We compute the correlation of daily returns between NE and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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