ACT vs NMIH: Correlation
How closely do Enact Holdings, Inc. (ACT) and NMI Holdings Inc (NMIH) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACT and NMIH?
Over the past 3 years, ACT and NMIH moved with a correlation of 0.80, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 377.3 %².
In ACT's tracked universe of 12 assets, NMIH sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months ACT outperformed by 18.4 percentage points (+31.3% for ACT against +12.9% for NMIH).
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.
ACT vs NMIH: side by side
| ACT (Enact Holdings, Inc.) | NMIH (NMI Holdings Inc) | |
|---|---|---|
| 1-year return | +31.3% | +12.9% |
| 5-year return | +200.2% | +99.5% |
| Volatility (ann.) | 19.7% | 24.1% |
| Beta vs S&P 500 | 0.46 | 0.55 |
| Max drawdown (3Y) | -15.3% | -21.4% |
| Market cap | $6.7B | $3.4B |
| P/E (trailing) | 10.4 | 8.9 |
| Dividend yield | 1.77% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACT | NMIH |
|---|---|---|
| 2022 | +24.1% | -4.3% |
| 2023 | +25.8% | +42.0% |
| 2024 | +14.7% | +23.9% |
| 2025 | +25.2% | +11.0% |
| 2026 | +25.6% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACT and NMIH good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ACT and NMIH?
As of 2026-08-27, the correlation of weekly returns between ACT and NMIH is 0.80 over 3 years, 0.84 over 1 year and 0.68 over 5 years.
Is NMIH a good diversifier for ACT?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 mean?
On the −1 to +1 scale, 0.80 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/act-vs-nmih.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/act-vs-nmih/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACT correlations · NMIH correlations
