BWMN vs NCRA: Correlation
Measured on weekly returns over the past three years, Bowman Consulting Group Ltd. (BWMN) and Nocera, Inc. (NCRA) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWMN and NCRA?
Across a 3-year window, the weekly returns of BWMN and NCRA correlate at 0.35, moderate. The link has tightened recently: the 1-year correlation (0.47) runs above the 3-year figure (0.35). Stretching to 5 years gives 0.23, with an annualized covariance of 1863.8 %².
Among the 17 assets we track against BWMN, NCRA ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BWMN outperformed by 97.6 percentage points (+1.5% for BWMN against -96.1% for NCRA). One caveat on sizing: NCRA 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.
BWMN vs NCRA: side by side
| BWMN (Bowman Consulting Group Ltd.) | NCRA (Nocera, Inc.) | |
|---|---|---|
| 1-year return | +1.5% | -96.1% |
| 5-year return | +220.2% | -99.1% |
| Volatility (ann.) | 56.7% | 92.8% |
| Beta vs S&P 500 | 1.08 | 1.42 |
| Max drawdown (3Y) | -56.2% | -97.7% |
| Market cap | $0.7B | – |
| P/E (trailing) | 101.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWMN | NCRA |
|---|---|---|
| 2022 | +2.8% | -85.8% |
| 2023 | +62.6% | +3.1% |
| 2024 | -29.8% | -35.9% |
| 2025 | +32.3% | +0.4% |
| 2026 | +28.8% | -93.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWMN and NCRA good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BWMN and NCRA?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.47 over the last year and 0.23 over 5 years.
Is NCRA a good diversifier for BWMN?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 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/bwmn-vs-ncra.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bwmn-vs-ncra/)
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Related comparisons
Hubs: BWMN correlations · NCRA correlations
