FROG vs NPCE: Correlation
Measured on weekly returns over the past three years, JFrog Ltd. (FROG) and Neuropace, Inc. (NPCE) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FROG and NPCE?
On 3 years of weekly data the FROG/NPCE correlation comes out at 0.38, moderate. The link has tightened recently: the 1-year correlation (0.49) runs above the 3-year figure (0.38). The 5-year figure is 0.31, and annualized covariance runs at 1507.9 %².
Within FROG's tracked universe of 15 assets, NPCE comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FROG outperformed by 53.2 percentage points (+112.3% for FROG against +59.1% for NPCE).
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.
FROG vs NPCE: side by side
| FROG (JFrog Ltd.) | NPCE (Neuropace, Inc.) | |
|---|---|---|
| 1-year return | +112.3% | +59.1% |
| 5-year return | +167.6% | -32.7% |
| Volatility (ann.) | 56.8% | 69.9% |
| Beta vs S&P 500 | 1.24 | 0.85 |
| Max drawdown (3Y) | -49.6% | -66.3% |
| Market cap | $12.8B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FROG | NPCE |
|---|---|---|
| 2022 | -28.2% | -85.2% |
| 2023 | +62.3% | +591.9% |
| 2024 | -15.0% | +8.5% |
| 2025 | +112.4% | +38.0% |
| 2026 | +66.6% | -8.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FROG and NPCE good diversifiers for each other?
Reasonably. At 0.38, FROG and NPCE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FROG and NPCE?
As of 2026-08-27, the correlation of weekly returns between FROG and NPCE is 0.38 over 3 years, 0.49 over 1 year and 0.31 over 5 years.
Is NPCE a good diversifier for FROG?
Reasonably. At 0.38, FROG and NPCE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 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.
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Related comparisons
Hubs: FROG correlations · NPCE correlations
