BIAF vs NCPL: Correlation
Measured on weekly returns over the past three years, bioAffinity Technologies, Inc. (BIAF) and Netcapital Inc. (NCPL) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIAF and NCPL?
Over the past 3 years, BIAF and NCPL moved with a correlation of 0.48, which is moderate. The past 12 months show a tighter link (0.60) than the 3-year average (0.48). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 50382.6 %².
Within BIAF's tracked universe of 24 assets, NCPL comes in at #10 by 3-year correlation. The last year tells two different stories: BIAF led by 42.4 percentage points, -32.0% for BIAF against -74.4% for NCPL. Note the risk asymmetry: BIAF runs 4.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BIAF vs NCPL: side by side
| BIAF (bioAffinity Technologies, Inc.) | NCPL (Netcapital Inc.) | |
|---|---|---|
| 1-year return | -32.0% | -74.4% |
| 5-year return | n/a | -99.9% |
| Volatility (ann.) | 691.4% | 152.6% |
| Beta vs S&P 500 | -2.10 | 1.81 |
| Max drawdown (3Y) | -99.6% | -99.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIAF | NCPL |
|---|---|---|
| 2022 | – | -90.0% |
| 2023 | -8.1% | -85.9% |
| 2024 | -38.1% | -86.0% |
| 2025 | -95.7% | -68.3% |
| 2026 | +328.8% | -18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIAF and NCPL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BIAF and NCPL?
As of 2026-08-27, the correlation of weekly returns between BIAF and NCPL is 0.48 over 3 years, 0.60 over 1 year and 0.44 over 5 years.
Is NCPL a good diversifier for BIAF?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/biaf-vs-ncpl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/biaf-vs-ncpl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BIAF correlations · NCPL correlations
