ICON vs NTRB: Correlation
How closely do Icon Energy Corp. (ICON) and Nutriband Inc. (NTRB) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICON and NTRB?
On 3 years of weekly data the ICON/NTRB correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.19) runs above the 3-year figure (-0.27). The 5-year figure is n/a, and annualized covariance runs at -3348.6 %².
Among the 15 assets we track against ICON, NTRB sits near the bottom by co-movement, at rank #14. The last year tells two different stories: NTRB led by 63.2 percentage points, -91.1% for ICON against -27.9% for NTRB.
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.
ICON vs NTRB: side by side
| ICON (Icon Energy Corp.) | NTRB (Nutriband Inc.) | |
|---|---|---|
| 1-year return | -91.1% | -27.9% |
| 5-year return | n/a | -19.5% |
| Volatility (ann.) | 114.3% | 106.0% |
| Beta vs S&P 500 | 2.01 | 1.25 |
| Max drawdown (3Y) | -99.9% | -73.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICON | NTRB |
|---|---|---|
| 2022 | – | -58.3% |
| 2023 | – | -35.6% |
| 2024 | – | +103.0% |
| 2025 | -99.2% | -3.6% |
| 2026 | -71.1% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICON and NTRB good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ICON and NTRB?
The ICON/NTRB correlation stands at -0.27 on a 3-year window (1 year: 0.19, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NTRB a good diversifier for ICON?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/icon-vs-ntrb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/icon-vs-ntrb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ICON correlations · NTRB correlations
