BBAR vs NCEL: Correlation
Measured on weekly returns over the past three years, Banco BBVA Argentina S.A. (BBAR) and NewcelX Ltd. (NCEL) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBAR and NCEL?
Across a 3-year window, the weekly returns of BBAR and NCEL correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.19 over 3. Stretching to 5 years gives -0.08, with an annualized covariance of -1570.0 %².
Within BBAR's tracked universe of 17 assets, NCEL comes in at #11 by 3-year correlation. The last year tells two different stories: BBAR led by 105.2 percentage points, +20.6% for BBAR against -84.6% for NCEL. Risk is not evenly split, since NCEL carries 1.7 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.
BBAR vs NCEL: side by side
| BBAR (Banco BBVA Argentina S.A.) | NCEL (NewcelX Ltd.) | |
|---|---|---|
| 1-year return | +20.6% | -84.6% |
| 5-year return | +356.0% | -99.6% |
| Volatility (ann.) | 70.3% | 118.9% |
| Beta vs S&P 500 | 1.06 | 0.68 |
| Max drawdown (3Y) | -66.3% | -99.6% |
| Market cap | $3.0B | – |
| P/E (trailing) | 15.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBAR | NCEL |
|---|---|---|
| 2022 | +34.6% | +16.2% |
| 2023 | +47.3% | -54.3% |
| 2024 | +315.7% | -91.1% |
| 2025 | -5.2% | -91.0% |
| 2026 | -17.7% | +80.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBAR and NCEL good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between BBAR and NCEL?
As of 2026-08-27, the correlation of weekly returns between BBAR and NCEL is -0.19 over 3 years, -0.27 over 1 year and -0.08 over 5 years.
Is NCEL a good diversifier for BBAR?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbar-vs-ncel.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bbar-vs-ncel/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BBAR correlations · NCEL correlations
