GD vs NA: Correlation
How closely do General Dynamics (GD) and Nano Labs Ltd - Class A (NA) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GD and NA?
Across a 3-year window, the weekly returns of GD and NA correlate at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.06) than the 3-year average (-0.18). Stretching to 5 years gives -0.12, with an annualized covariance of -682.2 %².
Among the 30 assets we track against GD, NA ranks #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GD outperformed by 84.1 percentage points (+18.8% for GD against -65.3% for NA). One caveat on sizing: NA is 8.6 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.
GD vs NA: side by side
| GD (General Dynamics) | NA (Nano Labs Ltd - Class A) | |
|---|---|---|
| 1-year return | +18.8% | -65.3% |
| 5-year return | +111.9% | -98.2% |
| Volatility (ann.) | 21.1% | 181.1% |
| Beta vs S&P 500 | 0.52 | 0.36 |
| Max drawdown (3Y) | -22.5% | -92.7% |
| Market cap | $102.8B | – |
| P/E (trailing) | 23.3 | 2.1 |
| Dividend yield | 1.62% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | GD | NA |
|---|---|---|
| 2022 | +21.7% | – |
| 2023 | +7.1% | +57.4% |
| 2024 | +3.5% | -50.5% |
| 2025 | +30.4% | -64.8% |
| 2026 | +14.4% | -32.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GD and NA good diversifiers for each other?
Yes. With a correlation of -0.18, GD and NA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GD and NA?
As of 2026-08-27, the correlation of weekly returns between GD and NA is -0.18 over 3 years, -0.06 over 1 year and -0.12 over 5 years.
Is NA a good diversifier for GD?
Yes. With a correlation of -0.18, GD and NA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/gd-vs-na.json
Embed this badge (it refreshes with the data), with attribution:
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GD correlations · NA correlations
