DTI vs NEOV: Correlation
Measured on weekly returns over the past three years, Drilling Tools International Corporation (DTI) and NeoVolta Inc. (NEOV) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTI and NEOV?
Across a 3-year window, the weekly returns of DTI and NEOV correlate at 0.30, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.30 over 3 years. Stretching to 5 years gives 0.26, with an annualized covariance of 2179.3 %².
By 3-year correlation, NEOV places #8 of the 13 assets tracked against DTI. Their recent paths diverged sharply: over the last 12 months DTI outperformed by 29.1 percentage points (+30.5% for DTI against +1.4% for NEOV). Note the risk asymmetry: NEOV runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DTI vs NEOV: side by side
| DTI (Drilling Tools International Corporation) | NEOV (NeoVolta Inc.) | |
|---|---|---|
| 1-year return | +30.5% | +1.4% |
| 5-year return | -74.8% | -45.4% |
| Volatility (ann.) | 65.4% | 111.0% |
| Beta vs S&P 500 | 0.96 | 1.32 |
| Max drawdown (3Y) | -75.0% | -79.4% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DTI | NEOV |
|---|---|---|
| 2022 | +4.0% | -60.2% |
| 2023 | -68.7% | -42.7% |
| 2024 | +2.2% | +225.6% |
| 2025 | -25.1% | -41.7% |
| 2026 | +1.2% | +16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTI and NEOV good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DTI and NEOV?
The DTI/NEOV correlation stands at 0.30 on a 3-year window (1 year: 0.18, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is NEOV a good diversifier for DTI?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/dti-vs-neov.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dti-vs-neov/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DTI correlations · NEOV correlations
