AFL vs NGEN: Correlation
How closely do Aflac (AFL) and NervGen Pharma Corp. (NGEN) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and NGEN?
Across a 3-year window, the weekly returns of AFL and NGEN correlate at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. Stretching to 5 years gives -0.11, with an annualized covariance of -405.7 %².
Out of 32 assets tracked against AFL, NGEN lands near the bottom at #30. On 12-month performance AFL holds a 13.9-point edge, +10.8% against -3.1%. Risk is not evenly split, since NGEN carries 4.4 times the volatility of the other side.
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.
AFL vs NGEN: side by side
| AFL (Aflac) | NGEN (NervGen Pharma Corp.) | |
|---|---|---|
| 1-year return | +10.8% | -3.1% |
| 5-year return | +131.3% | +44.1% |
| Volatility (ann.) | 19.2% | 84.7% |
| Beta vs S&P 500 | 0.36 | 0.57 |
| Max drawdown (3Y) | -13.6% | -73.4% |
| Market cap | $58.4B | $0.3B |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 2.03% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AFL | NGEN |
|---|---|---|
| 2022 | +26.4% | -44.1% |
| 2023 | +17.4% | +71.4% |
| 2024 | +28.1% | +6.9% |
| 2025 | +8.9% | +156.9% |
| 2026 | +7.4% | -58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and NGEN good diversifiers for each other?
Yes. With a correlation of -0.25, AFL and NGEN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AFL and NGEN?
The AFL/NGEN correlation stands at -0.25 on a 3-year window (1 year: -0.22, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is NGEN a good diversifier for AFL?
Yes. With a correlation of -0.25, AFL and NGEN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/afl-vs-ngen.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afl-vs-ngen/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AFL correlations · NGEN correlations
