FIRY vs NCEL: Correlation
Measured on weekly returns over the past three years, Firy Inc. (FIRY) and NewcelX Ltd. (NCEL) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIRY and NCEL?
Over the past 3 years, FIRY and NCEL moved with a correlation of 0.34, which is moderate. The link has tightened recently: the 1-year correlation (0.65) runs above the 3-year figure (0.34). Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 3841.1 %².
Among the 16 assets we track against FIRY, NCEL ranks #10 by 3-year correlation. The last year tells two different stories: FIRY led by 100.8 percentage points, +16.2% for FIRY against -84.6% for NCEL.
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.
FIRY vs NCEL: side by side
| FIRY (Firy Inc.) | NCEL (NewcelX Ltd.) | |
|---|---|---|
| 1-year return | +16.2% | -84.6% |
| 5-year return | -95.2% | -99.6% |
| Volatility (ann.) | 95.3% | 118.9% |
| Beta vs S&P 500 | 2.29 | 0.68 |
| Max drawdown (3Y) | -74.9% | -99.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIRY | NCEL |
|---|---|---|
| 2022 | -93.2% | +16.2% |
| 2023 | -38.3% | -54.3% |
| 2024 | -19.4% | -91.1% |
| 2025 | -14.3% | -91.0% |
| 2026 | +136.4% | +80.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIRY and NCEL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FIRY and NCEL?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.65 over the last year and 0.19 over 5 years.
Is NCEL a good diversifier for FIRY?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/firy-vs-ncel.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/firy-vs-ncel/)
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Related comparisons
Hubs: FIRY correlations · NCEL correlations
