DRI vs NCLH: Correlation
How closely do Darden Restaurants (DRI) and Norwegian Cruise Line Holdings (NCLH) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DRI and NCLH?
Over the past 3 years, DRI and NCLH moved with a correlation of 0.36, which is moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 451.5 %².
Among the 34 assets we track against DRI, NCLH ranks #19 by 3-year correlation. The last year tells two different stories: DRI led by 38.7 percentage points, +5.6% for DRI against -33.1% for NCLH. The rolling one-year correlation moved between 0.22 and 0.48 over the past three years, a moderate range. Risk is not evenly split, since NCLH carries 2.0 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.
DRI vs NCLH: side by side
| DRI (Darden Restaurants) | NCLH (Norwegian Cruise Line Holdings) | |
|---|---|---|
| 1-year return | +5.6% | -33.1% |
| 5-year return | +66.1% | -34.4% |
| Volatility (ann.) | 25.2% | 49.9% |
| Beta vs S&P 500 | 0.52 | 1.52 |
| Max drawdown (3Y) | -23.9% | -49.1% |
| Market cap | $24.0B | $7.6B |
| P/E (trailing) | 21.0 | 10.1 |
| Dividend yield | 2.74% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | DRI | NCLH |
|---|---|---|
| 2022 | -4.8% | -41.0% |
| 2023 | +22.8% | +63.7% |
| 2024 | +17.7% | +28.4% |
| 2025 | +1.6% | -13.3% |
| 2026 | +17.4% | -25.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DRI and NCLH good diversifiers for each other?
Reasonably. At 0.36, DRI and NCLH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DRI and NCLH?
As of 2026-08-27, the correlation of weekly returns between DRI and NCLH is 0.36 over 3 years, 0.42 over 1 year and 0.45 over 5 years.
Is NCLH a good diversifier for DRI?
Reasonably. At 0.36, DRI and NCLH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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/dri-vs-nclh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dri-vs-nclh/)
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Related comparisons
Hubs: DRI correlations · NCLH correlations
