ACNT vs GBR: Correlation
How closely do Ascent Industries Co. (ACNT) and New Concept Energy, Inc (GBR) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACNT and GBR?
Over the past 3 years, ACNT and GBR moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.33). Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -596.3 %².
Among the 16 assets we track against ACNT, GBR sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months ACNT outperformed by 43.5 percentage points (+31.0% for ACNT against -12.5% for GBR). One caveat on sizing: GBR is 1.9 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.
ACNT vs GBR: side by side
| ACNT (Ascent Industries Co.) | GBR (New Concept Energy, Inc) | |
|---|---|---|
| 1-year return | +31.0% | -12.5% |
| 5-year return | +37.0% | -81.2% |
| Volatility (ann.) | 31.2% | 58.4% |
| Beta vs S&P 500 | 0.09 | 0.50 |
| Max drawdown (3Y) | -31.8% | -65.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACNT | GBR |
|---|---|---|
| 2022 | -47.2% | -54.2% |
| 2023 | +10.3% | -8.3% |
| 2024 | +16.9% | +16.0% |
| 2025 | +44.8% | -35.3% |
| 2026 | -2.4% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACNT and GBR good diversifiers for each other?
Yes. With a correlation of -0.33, ACNT and GBR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACNT and GBR?
The ACNT/GBR correlation stands at -0.33 on a 3-year window (1 year: -0.45, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is GBR a good diversifier for ACNT?
Yes. With a correlation of -0.33, ACNT and GBR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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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Hubs: ACNT correlations · GBR correlations
