HY vs NSYS: Correlation
Measured on weekly returns over the past three years, Hyster-Yale, Inc. (HY) and Nortech Systems Incorporated (NSYS) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HY and NSYS?
Over the past 3 years, HY and NSYS moved with a correlation of 0.38, which is moderate. The link has tightened recently: the 1-year correlation (0.58) runs above the 3-year figure (0.38). Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 918.0 %².
By 3-year correlation, NSYS places #9 of the 14 assets tracked against HY. Correlation aside, the last 12 months split them widely, with NSYS ahead by 42.9 points (-6.3% versus +36.6%).
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.
HY vs NSYS: side by side
| HY (Hyster-Yale, Inc.) | NSYS (Nortech Systems Incorporated) | |
|---|---|---|
| 1-year return | -6.3% | +36.6% |
| 5-year return | -30.4% | -4.7% |
| Volatility (ann.) | 45.8% | 52.5% |
| Beta vs S&P 500 | 1.17 | 0.23 |
| Max drawdown (3Y) | -66.4% | -62.0% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | 34.2 |
| Dividend yield | 4.17% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HY | NSYS |
|---|---|---|
| 2022 | -35.9% | +18.4% |
| 2023 | +153.4% | -23.1% |
| 2024 | -16.3% | +9.2% |
| 2025 | -39.5% | -27.8% |
| 2026 | +19.0% | +65.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HY and NSYS good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HY and NSYS?
The HY/NSYS correlation stands at 0.38 on a 3-year window (1 year: 0.58, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is NSYS a good diversifier for HY?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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/hy-vs-nsys.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hy-vs-nsys/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HY correlations · NSYS correlations
