HOOD vs NSLR: Correlation
Measured on weekly returns over the past three years, Robinhood Markets (HOOD) and Neostellar Capital Corp. - Closed End Fund (NSLR) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOOD and NSLR?
Over the past 3 years, HOOD and NSLR moved with a correlation of 0.39, which is moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.39). Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 1254.5 %².
Within HOOD's tracked universe of 39 assets, NSLR comes in at #27 by 3-year correlation. On 12-month performance NSLR holds a 14.7-point edge, +6.6% against +21.3%. One caveat on sizing: HOOD is 1.6 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.
HOOD vs NSLR: side by side
| HOOD (Robinhood Markets) | NSLR (Neostellar Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | +6.6% | +21.3% |
| 5-year return | +151.5% | +4.6% |
| Volatility (ann.) | 71.4% | 45.0% |
| Beta vs S&P 500 | 2.88 | 0.97 |
| Max drawdown (3Y) | -57.3% | -35.6% |
| Market cap | $98.7B | $0.3B |
| P/E (trailing) | 48.1 | 2.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HOOD | NSLR |
|---|---|---|
| 2022 | -54.2% | -70.3% |
| 2023 | +56.5% | +3.7% |
| 2024 | +192.5% | +49.2% |
| 2025 | +203.5% | +69.9% |
| 2026 | -3.0% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOOD and NSLR good diversifiers for each other?
Reasonably. At 0.39, HOOD and NSLR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HOOD and NSLR?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.28 over the last year and 0.36 over 5 years.
Is NSLR a good diversifier for HOOD?
Reasonably. At 0.39, HOOD and NSLR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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/hood-vs-nslr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hood-vs-nslr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HOOD correlations · NSLR correlations
