AIOS vs NCSM: Correlation
Measured on weekly returns over the past three years, AIOS Tech Inc. - Class A (AIOS) and NCS Multistage Holdings, Inc. (NCSM) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIOS and NCSM?
Over the past 3 years, AIOS and NCSM moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.40) runs below the 3-year figure (-0.22). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -2188.5 %².
Among the 14 assets we track against AIOS, NCSM sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months NCSM outperformed by 113.1 percentage points (-78.6% for AIOS against +34.5% for NCSM). Risk is not evenly split, since AIOS carries 2.3 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.
AIOS vs NCSM: side by side
| AIOS (AIOS Tech Inc. - Class A) | NCSM (NCS Multistage Holdings, Inc.) | |
|---|---|---|
| 1-year return | -78.6% | +34.5% |
| 5-year return | -99.1% | +112.6% |
| Volatility (ann.) | 153.4% | 66.0% |
| Beta vs S&P 500 | 1.61 | 0.05 |
| Max drawdown (3Y) | -98.1% | -53.3% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | 9.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIOS | NCSM |
|---|---|---|
| 2022 | -82.2% | -13.8% |
| 2023 | -29.8% | -28.6% |
| 2024 | +67.7% | +45.4% |
| 2025 | -84.1% | +52.1% |
| 2026 | -21.6% | +28.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIOS and NCSM good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AIOS and NCSM?
The AIOS/NCSM correlation stands at -0.22 on a 3-year window (1 year: -0.40, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is NCSM a good diversifier for AIOS?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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
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Related comparisons
Hubs: AIOS correlations · NCSM correlations
