CLB vs NCSM: Correlation
How closely do Core Laboratories Inc. (CLB) and NCS Multistage Holdings, Inc. (NCSM) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLB and NCSM?
Over the past 3 years, CLB and NCSM moved with a correlation of 0.35, which is moderate. The relationship has been stable: the 1-year correlation (0.37) sits close to the 3-year figure. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 1218.5 %².
By 3-year correlation, NCSM places #9 of the 15 assets tracked against CLB. The last year tells two different stories: NCSM led by 23.9 percentage points, +10.6% for CLB against +34.5% for NCSM.
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.
CLB vs NCSM: side by side
| CLB (Core Laboratories Inc.) | NCSM (NCS Multistage Holdings, Inc.) | |
|---|---|---|
| 1-year return | +10.6% | +34.5% |
| 5-year return | -55.8% | +112.6% |
| Volatility (ann.) | 53.1% | 66.0% |
| Beta vs S&P 500 | 0.91 | 0.05 |
| Max drawdown (3Y) | -62.5% | -53.3% |
| Market cap | $0.6B | $0.1B |
| P/E (trailing) | 23.2 | 9.7 |
| Dividend yield | 0.33% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLB | NCSM |
|---|---|---|
| 2022 | -9.0% | -13.8% |
| 2023 | -12.7% | -28.6% |
| 2024 | -1.8% | +45.4% |
| 2025 | -7.1% | +52.1% |
| 2026 | -23.2% | +28.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLB and NCSM good diversifiers for each other?
Reasonably. At 0.35, CLB and NCSM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CLB and NCSM?
As of 2026-08-27, the correlation of weekly returns between CLB and NCSM is 0.35 over 3 years, 0.37 over 1 year and 0.36 over 5 years.
Is NCSM a good diversifier for CLB?
Reasonably. At 0.35, CLB and NCSM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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/clb-vs-ncsm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/clb-vs-ncsm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLB correlations · NCSM correlations
