ELAB vs NCI: Correlation
Measured on weekly returns over the past three years, PMGC Holdings Inc. (ELAB) and Neo-Concept International Group Holdings Limited - Class A (NCI) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELAB and NCI?
Across a 3-year window, the weekly returns of ELAB and NCI correlate at -0.29, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.38 over 1 year against -0.29 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -11047.7 %².
Among the 20 assets we track against ELAB, NCI sits near the bottom by co-movement, at rank #17. Their recent paths diverged sharply: over the last 12 months NCI outperformed by 93.9 percentage points (-99.7% for ELAB against -5.8% for NCI).
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.
ELAB vs NCI: side by side
| ELAB (PMGC Holdings Inc.) | NCI (Neo-Concept International Group Holdings Limited - Class A) | |
|---|---|---|
| 1-year return | -99.7% | -5.8% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 195.6% | 184.4% |
| Beta vs S&P 500 | 2.50 | -0.24 |
| Max drawdown (3Y) | -100.0% | -99.0% |
| Market cap | – | – |
| P/E (trailing) | – | 154.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELAB | NCI |
|---|---|---|
| 2024 | -99.4% | – |
| 2025 | -97.4% | -65.8% |
| 2026 | -98.4% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELAB and NCI good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between ELAB and NCI?
The ELAB/NCI correlation stands at -0.29 on a 3-year window (1 year: -0.38, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NCI a good diversifier for ELAB?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 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/elab-vs-nci.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/elab-vs-nci/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELAB correlations · NCI correlations
