ATGL vs NA: Correlation
How closely do Alpha Technology Group Limited - Class A (ATGL) and Nano Labs Ltd - Class A (NA) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATGL and NA?
On 3 years of weekly data the ATGL/NA correlation comes out at 0.37, moderate. The link has loosened recently: the 1-year correlation (-0.11) runs below the 3-year figure (0.37). The 5-year figure is n/a, and annualized covariance runs at 17510.5 %².
Among the 11 assets we track against ATGL, NA ranks #4 by 3-year correlation. The trailing year gives NA the advantage: -76.0% versus -65.3%, a 10.7-point spread.
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.
ATGL vs NA: side by side
| ATGL (Alpha Technology Group Limited - Class A) | NA (Nano Labs Ltd - Class A) | |
|---|---|---|
| 1-year return | -76.0% | -65.3% |
| 5-year return | n/a | -98.2% |
| Volatility (ann.) | 253.1% | 181.1% |
| Beta vs S&P 500 | 0.71 | 0.36 |
| Max drawdown (3Y) | -95.9% | -92.7% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 2.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATGL | NA |
|---|---|---|
| 2023 | – | +57.4% |
| 2024 | +11.3% | -50.5% |
| 2025 | +48.0% | -64.8% |
| 2026 | -65.5% | -32.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATGL and NA good diversifiers for each other?
Reasonably. At 0.37, ATGL and NA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ATGL and NA?
The ATGL/NA correlation stands at 0.37 on a 3-year window (1 year: -0.11, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NA a good diversifier for ATGL?
Reasonably. At 0.37, ATGL and NA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ATGL correlations · NA correlations
