BHR vs NTIC: Correlation
How closely do Braemar Hotels & Resorts Inc. (BHR) and Northern Technologies International Corporation (NTIC) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHR and NTIC?
Over the past 3 years, BHR and NTIC moved with a correlation of 0.29, which is weak. Recent behaviour matches the longer record: 0.21 over 1 year against 0.29 over 3. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 581.1 %².
Among the 12 assets we track against BHR, NTIC sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with NTIC ahead by 30.0 points (-21.4% versus +8.6%). One caveat on sizing: BHR is 1.6 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.
BHR vs NTIC: side by side
| BHR (Braemar Hotels & Resorts Inc.) | NTIC (Northern Technologies International Corporation) | |
|---|---|---|
| 1-year return | -21.4% | +8.6% |
| 5-year return | -47.8% | -46.9% |
| Volatility (ann.) | 55.4% | 35.6% |
| Beta vs S&P 500 | 1.17 | 0.01 |
| Max drawdown (3Y) | -49.7% | -63.3% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 4.88% | 0.37% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHR | NTIC |
|---|---|---|
| 2022 | -17.9% | -10.9% |
| 2023 | -35.2% | -9.4% |
| 2024 | +29.6% | +16.7% |
| 2025 | +3.0% | -41.4% |
| 2026 | -27.9% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHR and NTIC good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BHR and NTIC?
As of 2026-08-27, the correlation of weekly returns between BHR and NTIC is 0.29 over 3 years, 0.21 over 1 year and 0.27 over 5 years.
Is NTIC a good diversifier for BHR?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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
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Related comparisons
Hubs: BHR correlations · NTIC correlations
