AZ vs NTIC: Correlation
How closely do A2Z Cust2Mate Solutions Corp. (AZ) and Northern Technologies International Corporation (NTIC) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZ and NTIC?
Across a 3-year window, the weekly returns of AZ and NTIC correlate at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.14 lands near the 3-year figure. Stretching to 5 years gives -0.12, with an annualized covariance of -730.8 %².
Among the 11 assets we track against AZ, NTIC sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months NTIC outperformed by 34.1 percentage points (-25.5% for AZ against +8.6% for NTIC). One caveat on sizing: AZ is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AZ vs NTIC: side by side
| AZ (A2Z Cust2Mate Solutions Corp.) | NTIC (Northern Technologies International Corporation) | |
|---|---|---|
| 1-year return | -25.5% | +8.6% |
| 5-year return | -49.4% | -46.9% |
| Volatility (ann.) | 97.5% | 35.6% |
| Beta vs S&P 500 | 1.35 | 0.01 |
| Max drawdown (3Y) | -85.0% | -63.3% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AZ | NTIC |
|---|---|---|
| 2022 | -88.3% | -10.9% |
| 2023 | +7.9% | -9.4% |
| 2024 | +93.3% | +16.7% |
| 2025 | -1.7% | -41.4% |
| 2026 | +1.8% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZ and NTIC good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AZ and NTIC?
As of 2026-08-27, the correlation of weekly returns between AZ and NTIC is -0.21 over 3 years, -0.14 over 1 year and -0.12 over 5 years.
Is NTIC a good diversifier for AZ?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/az-vs-ntic.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/az-vs-ntic/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AZ correlations · NTIC correlations
