CISS vs NCMI: Correlation
Measured on weekly returns over the past three years, C3is Inc. (CISS) and National CineMedia, Inc. (NCMI) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CISS and NCMI?
On 3 years of weekly data the CISS/NCMI correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.49) than the 3-year average (-0.30). The 5-year figure is n/a, and annualized covariance runs at -31984.3 %².
Within CISS's tracked universe of 42 assets, NCMI comes in at #33 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NCMI outperformed by 58.9 percentage points (-99.5% for CISS against -40.6% for NCMI). Risk is not evenly split, since CISS carries 40.7 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.
CISS vs NCMI: side by side
| CISS (C3is Inc.) | NCMI (National CineMedia, Inc.) | |
|---|---|---|
| 1-year return | -99.5% | -40.6% |
| 5-year return | n/a | -88.8% |
| Volatility (ann.) | 2098.5% | 51.6% |
| Beta vs S&P 500 | 2.24 | 0.73 |
| Max drawdown (3Y) | -100.0% | -68.9% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CISS | NCMI |
|---|---|---|
| 2022 | – | -91.7% |
| 2023 | – | +88.2% |
| 2024 | -98.9% | +60.4% |
| 2025 | -97.3% | -39.9% |
| 2026 | -93.4% | -34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CISS and NCMI good diversifiers for each other?
Yes. With a correlation of -0.30, CISS and NCMI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CISS and NCMI?
The CISS/NCMI correlation stands at -0.30 on a 3-year window (1 year: -0.49, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NCMI a good diversifier for CISS?
Yes. With a correlation of -0.30, CISS and NCMI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/ciss-vs-ncmi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ciss-vs-ncmi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CISS correlations · NCMI correlations
