HLF vs NTIC: Correlation
Herbalife Ltd. (HLF) and Northern Technologies International Corporation (NTIC) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLF and NTIC?
On 3 years of weekly data the HLF/NTIC correlation comes out at 0.28, weak. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.28 over 3 years. The 5-year figure is 0.22, and annualized covariance runs at 652.9 %².
By 3-year correlation, NTIC places #7 of the 12 assets tracked against HLF. Correlation aside, the last 12 months split them widely, with HLF ahead by 21.7 points (+30.3% versus +8.6%). Note the risk asymmetry: HLF runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HLF vs NTIC: side by side
| HLF (Herbalife Ltd.) | NTIC (Northern Technologies International Corporation) | |
|---|---|---|
| 1-year return | +30.3% | +8.6% |
| 5-year return | -75.9% | -46.9% |
| Volatility (ann.) | 65.4% | 35.6% |
| Beta vs S&P 500 | 0.48 | 0.01 |
| Max drawdown (3Y) | -67.0% | -63.3% |
| Market cap | $1.3B | $0.1B |
| P/E (trailing) | 8.0 | – |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLF | NTIC |
|---|---|---|
| 2022 | -63.6% | -10.9% |
| 2023 | +2.6% | -9.4% |
| 2024 | -56.2% | +16.7% |
| 2025 | +92.7% | -41.4% |
| 2026 | -4.2% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLF and NTIC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HLF and NTIC?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.18 over the last year and 0.22 over 5 years.
Is NTIC a good diversifier for HLF?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hlf-vs-ntic.json
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Related comparisons
Hubs: HLF correlations · NTIC correlations
