BTOC vs NTRS: Correlation
How closely do Armlogi Holding Corp. (BTOC) and Northern Trust (NTRS) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTOC and NTRS?
On 3 years of weekly data the BTOC/NTRS correlation comes out at 0.40, moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.40 over 3. The 5-year figure is n/a, and annualized covariance runs at 779.0 %².
Few assets follow BTOC as closely as NTRS, which ranks #3 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with NTRS ahead by 124.5 points (-79.7% versus +44.8%). Risk is not evenly split, since BTOC carries 3.5 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.
BTOC vs NTRS: side by side
| BTOC (Armlogi Holding Corp.) | NTRS (Northern Trust) | |
|---|---|---|
| 1-year return | -79.7% | +44.8% |
| 5-year return | n/a | +83.2% |
| Volatility (ann.) | 83.6% | 23.7% |
| Beta vs S&P 500 | 1.75 | 1.08 |
| Max drawdown (3Y) | -97.1% | -25.2% |
| Market cap | – | $34.1B |
| P/E (trailing) | – | 16.1 |
| Dividend yield | 0.00% | 1.71% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | BTOC | NTRS |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -1.0% |
| 2024 | – | +25.6% |
| 2025 | -87.5% | +36.9% |
| 2026 | -44.6% | +37.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTOC and NTRS good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BTOC and NTRS?
As of 2026-08-27, the correlation of weekly returns between BTOC and NTRS is 0.40 over 3 years, 0.32 over 1 year and n/a over 5 years.
Is NTRS a good diversifier for BTOC?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 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/btoc-vs-ntrs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/btoc-vs-ntrs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BTOC correlations · NTRS correlations
