CNEY vs NGEN: Correlation
How closely do CN Energy Group Inc. - Class A (CNEY) and NervGen Pharma Corp. (NGEN) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNEY and NGEN?
Over the past 3 years, CNEY and NGEN moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.23). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -3227.3 %².
Out of 10 assets tracked against CNEY, NGEN lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with NGEN ahead by 70.3 points (-73.4% versus -3.1%). One caveat on sizing: CNEY is 2.0 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.
CNEY vs NGEN: side by side
| CNEY (CN Energy Group Inc. - Class A) | NGEN (NervGen Pharma Corp.) | |
|---|---|---|
| 1-year return | -73.4% | -3.1% |
| 5-year return | -100.0% | +44.1% |
| Volatility (ann.) | 169.1% | 84.7% |
| Beta vs S&P 500 | 1.83 | 0.57 |
| Max drawdown (3Y) | -99.7% | -73.4% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNEY | NGEN |
|---|---|---|
| 2022 | -73.2% | -44.1% |
| 2023 | -91.3% | +71.4% |
| 2024 | -84.3% | +6.9% |
| 2025 | -92.2% | +156.9% |
| 2026 | -0.1% | -58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNEY and NGEN good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CNEY and NGEN?
The CNEY/NGEN correlation stands at -0.23 on a 3-year window (1 year: -0.42, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is NGEN a good diversifier for CNEY?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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/cney-vs-ngen.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cney-vs-ngen/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNEY correlations · NGEN correlations
