EQS vs NGEN: Correlation
Equus Total Return, Inc. (EQS) and NervGen Pharma Corp. (NGEN) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQS and NGEN?
On 3 years of weekly data the EQS/NGEN correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.20, and annualized covariance runs at -1037.1 %².
NGEN is close to the least connected end of EQS's tracked universe, ranking #17 of 17. Their recent paths diverged sharply: over the last 12 months NGEN outperformed by 46.4 percentage points (-49.5% for EQS against -3.1% for NGEN). One caveat on sizing: NGEN is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EQS vs NGEN: side by side
| EQS (Equus Total Return, Inc.) | NGEN (NervGen Pharma Corp.) | |
|---|---|---|
| 1-year return | -49.5% | -3.1% |
| 5-year return | -58.6% | +44.1% |
| Volatility (ann.) | 47.4% | 84.7% |
| Beta vs S&P 500 | -0.16 | 0.57 |
| Max drawdown (3Y) | -58.6% | -73.4% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQS | NGEN |
|---|---|---|
| 2022 | -39.9% | -44.1% |
| 2023 | +1.4% | +71.4% |
| 2024 | -24.1% | +6.9% |
| 2025 | +28.2% | +156.9% |
| 2026 | -27.0% | -58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQS and NGEN good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQS and NGEN?
The EQS/NGEN correlation stands at -0.26 on a 3-year window (1 year: -0.33, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is NGEN a good diversifier for EQS?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/eqs-vs-ngen.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqs-vs-ngen/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EQS correlations · NGEN correlations
