HSCS vs NA: Correlation
HeartSciences Inc. (HSCS) and Nano Labs Ltd - Class A (NA) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSCS and NA?
Over the past 3 years, HSCS and NA moved with a correlation of 0.33, which is moderate. The link has loosened recently: the 1-year correlation (-0.02) runs below the 3-year figure (0.33). Over 5 years the correlation is 0.17, and the annualized covariance of weekly returns is 6214.0 %².
NA is one of the assets that tracks HSCS most closely: it ranks #3 out of the 10 assets we track against HSCS. Correlation aside, the last 12 months split them widely, with HSCS ahead by 57.6 points (-7.7% versus -65.3%). Note the risk asymmetry: NA runs 1.7 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.
HSCS vs NA: side by side
| HSCS (HeartSciences Inc.) | NA (Nano Labs Ltd - Class A) | |
|---|---|---|
| 1-year return | -7.7% | -65.3% |
| 5-year return | -98.7% | -98.2% |
| Volatility (ann.) | 104.0% | 181.1% |
| Beta vs S&P 500 | 0.88 | 0.36 |
| Max drawdown (3Y) | -98.0% | -92.7% |
| Market cap | – | – |
| P/E (trailing) | – | 2.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HSCS | NA |
|---|---|---|
| 2023 | -79.6% | +57.4% |
| 2024 | -77.7% | -50.5% |
| 2025 | -19.1% | -64.8% |
| 2026 | +1.0% | -32.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSCS and NA good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HSCS and NA?
The HSCS/NA correlation stands at 0.33 on a 3-year window (1 year: -0.02, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is NA a good diversifier for HSCS?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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/hscs-vs-na.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hscs-vs-na/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HSCS correlations · NA correlations
