ASLE vs NGVT: Correlation
AerSale Corporation (ASLE) and Ingevity Corporation (NGVT) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASLE and NGVT?
Across a 3-year window, the weekly returns of ASLE and NGVT correlate at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 1113.4 %².
Among the 12 assets we track against ASLE, NGVT ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NGVT ahead by 57.1 points (-35.6% versus +21.5%).
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.
ASLE vs NGVT: side by side
| ASLE (AerSale Corporation) | NGVT (Ingevity Corporation) | |
|---|---|---|
| 1-year return | -35.6% | +21.5% |
| 5-year return | -57.7% | -14.1% |
| Volatility (ann.) | 48.5% | 48.8% |
| Beta vs S&P 500 | 0.91 | 1.39 |
| Max drawdown (3Y) | -72.2% | -45.8% |
| Market cap | $0.3B | $2.4B |
| P/E (trailing) | – | 98.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASLE | NGVT |
|---|---|---|
| 2022 | -8.6% | -1.8% |
| 2023 | -21.7% | -33.0% |
| 2024 | -50.4% | -13.7% |
| 2025 | +12.9% | +45.2% |
| 2026 | -20.5% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASLE and NGVT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ASLE and NGVT?
The ASLE/NGVT correlation stands at 0.47 on a 3-year window (1 year: 0.50, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is NGVT a good diversifier for ASLE?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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.
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Related comparisons
Hubs: ASLE correlations · NGVT correlations
