CBL vs NHTC: Correlation
CBL & Associates Properties, Inc. (CBL) and Natural Health Trends Corp. (NHTC) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBL and NHTC?
Across a 3-year window, the weekly returns of CBL and NHTC correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.21). Stretching to 5 years gives -0.04, with an annualized covariance of -227.0 %².
Out of 10 assets tracked against CBL, NHTC lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months CBL outperformed by 141.4 percentage points (+85.2% for CBL against -56.2% for NHTC). Risk is not evenly split, since NHTC carries 1.5 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.
CBL vs NHTC: side by side
| CBL (CBL & Associates Properties, Inc.) | NHTC (Natural Health Trends Corp.) | |
|---|---|---|
| 1-year return | +85.2% | -56.2% |
| 5-year return | +159.7% | -50.8% |
| Volatility (ann.) | 26.3% | 40.5% |
| Beta vs S&P 500 | 0.66 | 0.59 |
| Max drawdown (3Y) | -29.1% | -71.7% |
| Market cap | $1.7B | – |
| P/E (trailing) | 7.9 | – |
| Dividend yield | 3.27% | 35.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBL | NHTC |
|---|---|---|
| 2022 | -18.0% | -42.1% |
| 2023 | +13.0% | +96.2% |
| 2024 | +28.5% | -11.5% |
| 2025 | +37.2% | -20.5% |
| 2026 | +52.8% | -41.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBL and NHTC good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between CBL and NHTC?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.38 over the last year and -0.04 over 5 years.
Is NHTC a good diversifier for CBL?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cbl-vs-nhtc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbl-vs-nhtc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBL correlations · NHTC correlations
