HLNE vs NPCE: Correlation
Measured on weekly returns over the past three years, Hamilton Lane Incorporated (HLNE) and Neuropace, Inc. (NPCE) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLNE and NPCE?
On 3 years of weekly data the HLNE/NPCE correlation comes out at 0.35, moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. The 5-year figure is 0.28, and annualized covariance runs at 900.9 %².
Among the 18 assets we track against HLNE, NPCE sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with NPCE ahead by 88.5 points (-29.4% versus +59.1%). Note the risk asymmetry: NPCE runs 1.9 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.
HLNE vs NPCE: side by side
| HLNE (Hamilton Lane Incorporated) | NPCE (Neuropace, Inc.) | |
|---|---|---|
| 1-year return | -29.4% | +59.1% |
| 5-year return | +32.3% | -32.7% |
| Volatility (ann.) | 37.2% | 69.9% |
| Beta vs S&P 500 | 1.23 | 0.85 |
| Max drawdown (3Y) | -62.3% | -66.3% |
| Market cap | $5.9B | $0.5B |
| P/E (trailing) | 16.0 | – |
| Dividend yield | 2.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLNE | NPCE |
|---|---|---|
| 2022 | -37.0% | -85.2% |
| 2023 | +81.4% | +591.9% |
| 2024 | +32.4% | +8.5% |
| 2025 | -7.9% | +38.0% |
| 2026 | -19.4% | -8.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLNE and NPCE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HLNE and NPCE?
The HLNE/NPCE correlation stands at 0.35 on a 3-year window (1 year: 0.39, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is NPCE a good diversifier for HLNE?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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.
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Related comparisons
Hubs: HLNE correlations · NPCE correlations
