LOPE vs NGVC: Correlation
Grand Canyon Education, Inc. (LOPE) and Natural Grocers by Vitamin Cottage, Inc. (NGVC) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOPE and NGVC?
Across a 3-year window, the weekly returns of LOPE and NGVC correlate at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.37) sits close to the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 720.4 %².
Within LOPE's tracked universe of 17 assets, NGVC comes in at #9 by 3-year correlation. Neither side won the trailing year by much: -26.2% against -29.8%. One caveat on sizing: NGVC 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.
LOPE vs NGVC: side by side
| LOPE (Grand Canyon Education, Inc.) | NGVC (Natural Grocers by Vitamin Cottage, Inc.) | |
|---|---|---|
| 1-year return | -26.2% | -29.8% |
| 5-year return | +69.3% | +184.3% |
| Volatility (ann.) | 32.2% | 51.4% |
| Beta vs S&P 500 | 0.86 | 0.61 |
| Max drawdown (3Y) | -38.0% | -59.9% |
| Market cap | $3.9B | $0.6B |
| P/E (trailing) | 18.0 | 13.6 |
| Dividend yield | 0.00% | 2.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOPE | NGVC |
|---|---|---|
| 2022 | +23.3% | -34.0% |
| 2023 | +25.0% | +91.8% |
| 2024 | +24.1% | +152.5% |
| 2025 | +1.5% | -36.1% |
| 2026 | -9.7% | +10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOPE and NGVC good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LOPE and NGVC?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.37 over the last year and 0.31 over 5 years.
Is NGVC a good diversifier for LOPE?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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.
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Related comparisons
Hubs: LOPE correlations · NGVC correlations
