IPGP vs NRC: Correlation
How closely do IPG Photonics Corporation (IPGP) and NRC Health (NRC) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPGP and NRC?
Over the past 3 years, IPGP and NRC moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.59) than the 3-year average (-0.23). Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -534.9 %².
Among the 18 assets we track against IPGP, NRC sits near the bottom by co-movement, at rank #16. Their recent paths diverged sharply: over the last 12 months NRC outperformed by 54.7 percentage points (-7.6% for IPGP against +47.1% for NRC).
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.
IPGP vs NRC: side by side
| IPGP (IPG Photonics Corporation) | NRC (NRC Health) | |
|---|---|---|
| 1-year return | -7.6% | +47.1% |
| 5-year return | -55.1% | -53.4% |
| Volatility (ann.) | 48.0% | 48.5% |
| Beta vs S&P 500 | 1.24 | 0.51 |
| Max drawdown (3Y) | -55.1% | -77.6% |
| Market cap | $3.3B | $0.5B |
| P/E (trailing) | 113.6 | 91.7 |
| Dividend yield | 0.00% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPGP | NRC |
|---|---|---|
| 2022 | -45.0% | -8.2% |
| 2023 | +14.7% | +9.6% |
| 2024 | -33.0% | -54.5% |
| 2025 | -1.5% | +10.0% |
| 2026 | +7.9% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPGP and NRC good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IPGP and NRC?
As of 2026-08-27, the correlation of weekly returns between IPGP and NRC is -0.23 over 3 years, -0.59 over 1 year and -0.06 over 5 years.
Is NRC a good diversifier for IPGP?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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/ipgp-vs-nrc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ipgp-vs-nrc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IPGP correlations · NRC correlations
