BTI vs NMTC: Correlation
How closely do British American Tobacco Industries, p.l.c. (BTI) and NeuroOne Medical Technologies Corporation (NMTC) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTI and NMTC?
On 3 years of weekly data the BTI/NMTC correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.28). The 5-year figure is -0.08, and annualized covariance runs at -533.7 %².
Out of 21 assets tracked against BTI, NMTC lands near the bottom at #21. Correlation aside, the last 12 months split them widely, with BTI ahead by 60.8 points (+4.8% versus -56.0%). One caveat on sizing: NMTC is 3.7 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.
BTI vs NMTC: side by side
| BTI (British American Tobacco Industries, p.l.c.) | NMTC (NeuroOne Medical Technologies Corporation) | |
|---|---|---|
| 1-year return | +4.8% | -56.0% |
| 5-year return | +119.4% | -91.3% |
| Volatility (ann.) | 22.5% | 83.8% |
| Beta vs S&P 500 | 0.06 | 1.16 |
| Max drawdown (3Y) | -15.3% | -86.8% |
| Market cap | $121.2B | – |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 4.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTI | NMTC |
|---|---|---|
| 2022 | +15.1% | -38.1% |
| 2023 | -20.1% | +31.7% |
| 2024 | +35.4% | -47.7% |
| 2025 | +65.8% | -8.2% |
| 2026 | +2.2% | -56.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTI and NMTC good diversifiers for each other?
Yes. With a correlation of -0.28, BTI and NMTC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTI and NMTC?
The BTI/NMTC correlation stands at -0.28 on a 3-year window (1 year: -0.41, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is NMTC a good diversifier for BTI?
Yes. With a correlation of -0.28, BTI and NMTC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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/bti-vs-nmtc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bti-vs-nmtc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTI correlations · NMTC correlations
