EMBC vs NNI: Correlation
Measured on weekly returns over the past three years, Embecta Corp. (EMBC) and Nelnet, Inc. (NNI) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMBC and NNI?
On 3 years of weekly data the EMBC/NNI correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.45 over 3. The 5-year figure is 0.36, and annualized covariance runs at 708.2 %².
Among the 15 assets we track against EMBC, NNI ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NNI outperformed by 64.3 percentage points (-64.5% for EMBC against -0.2% for NNI). Risk is not evenly split, since EMBC carries 3.3 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.
EMBC vs NNI: side by side
| EMBC (Embecta Corp.) | NNI (Nelnet, Inc.) | |
|---|---|---|
| 1-year return | -64.5% | -0.2% |
| 5-year return | -87.8% | +67.8% |
| Volatility (ann.) | 72.4% | 22.0% |
| Beta vs S&P 500 | 0.91 | 0.59 |
| Max drawdown (3Y) | -85.3% | -18.5% |
| Market cap | $0.3B | $4.6B |
| P/E (trailing) | 3.4 | 15.3 |
| Dividend yield | 9.29% | 1.01% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMBC | NNI |
|---|---|---|
| 2022 | – | -6.0% |
| 2023 | -23.1% | -1.6% |
| 2024 | +13.6% | +22.4% |
| 2025 | -39.6% | +25.7% |
| 2026 | -57.4% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMBC and NNI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EMBC and NNI?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.54 over the last year and 0.36 over 5 years.
Is NNI a good diversifier for EMBC?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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
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Related comparisons
Hubs: EMBC correlations · NNI correlations
