CPNG vs NBXG: Correlation
How closely do Coupang, Inc. (CPNG) and Neuberger Next Generation Connectivity Fund Inc. (NBXG) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPNG and NBXG?
On 3 years of weekly data the CPNG/NBXG correlation comes out at 0.43, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.53 versus 0.43 over 3 years. The 5-year figure is 0.49, and annualized covariance runs at 364.0 %².
Within CPNG's tracked universe of 11 assets, NBXG comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NBXG ahead by 56.3 points (-42.5% versus +13.8%). Risk is not evenly split, since CPNG carries 1.7 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.
CPNG vs NBXG: side by side
| CPNG (Coupang, Inc.) | NBXG (Neuberger Next Generation Connectivity Fund Inc.) | |
|---|---|---|
| 1-year return | -42.5% | +13.8% |
| 5-year return | -46.1% | +25.6% |
| Volatility (ann.) | 37.4% | 22.4% |
| Beta vs S&P 500 | 0.95 | 1.28 |
| Max drawdown (3Y) | -54.9% | -22.1% |
| Market cap | $29.2B | $1.2B |
| P/E (trailing) | – | 3.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPNG | NBXG |
|---|---|---|
| 2022 | -49.9% | -41.4% |
| 2023 | +10.1% | +34.9% |
| 2024 | +35.8% | +28.5% |
| 2025 | +7.3% | +24.2% |
| 2026 | -31.2% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPNG and NBXG good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CPNG and NBXG?
The CPNG/NBXG correlation stands at 0.43 on a 3-year window (1 year: 0.53, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is NBXG a good diversifier for CPNG?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/cpng-vs-nbxg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cpng-vs-nbxg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPNG correlations · NBXG correlations
