FERG vs NCI: Correlation
Measured on weekly returns over the past three years, Ferguson Enterprises (FERG) and Neo-Concept International Group Holdings Limited - Class A (NCI) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FERG and NCI?
On 3 years of weekly data the FERG/NCI correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.19). The 5-year figure is n/a, and annualized covariance runs at -1048.4 %².
By 3-year correlation, NCI places #28 of the 35 assets tracked against FERG. Over the last 12 months FERG came out ahead by 6.9 percentage points (+1.1% against -5.8%). One caveat on sizing: NCI is 6.1 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.
FERG vs NCI: side by side
| FERG (Ferguson Enterprises) | NCI (Neo-Concept International Group Holdings Limited - Class A) | |
|---|---|---|
| 1-year return | +1.1% | -5.8% |
| 5-year return | +82.2% | n/a |
| Volatility (ann.) | 30.0% | 184.4% |
| Beta vs S&P 500 | 0.99 | -0.24 |
| Max drawdown (3Y) | -32.9% | -99.0% |
| Market cap | $45.1B | – |
| P/E (trailing) | 23.0 | 154.5 |
| Dividend yield | 1.80% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FERG | NCI |
|---|---|---|
| 2022 | -27.2% | – |
| 2023 | +55.1% | – |
| 2024 | -8.6% | – |
| 2025 | +29.9% | -65.8% |
| 2026 | +6.4% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FERG and NCI good diversifiers for each other?
Yes. With a correlation of -0.19, FERG and NCI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FERG and NCI?
As of 2026-08-27, the correlation of weekly returns between FERG and NCI is -0.19 over 3 years, -0.36 over 1 year and n/a over 5 years.
Is NCI a good diversifier for FERG?
Yes. With a correlation of -0.19, FERG and NCI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/ferg-vs-nci.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: FERG correlations · NCI correlations
