MARA vs NCTY: Correlation
MARA Holdings, Inc. (MARA) and The9 Limited - American Depository Shares (NCTY) 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 MARA and NCTY?
On 3 years of weekly data the MARA/NCTY correlation comes out at 0.33, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.33 over 3 years. The 5-year figure is 0.50, and annualized covariance runs at 2608.4 %².
NCTY is close to the least connected end of MARA's tracked universe, ranking #18 of 21. Correlation aside, the last 12 months split them widely, with MARA ahead by 20.6 points (-25.1% versus -45.7%).
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.
MARA vs NCTY: side by side
| MARA (MARA Holdings, Inc.) | NCTY (The9 Limited - American Depository Shares) | |
|---|---|---|
| 1-year return | -25.1% | -45.7% |
| 5-year return | -70.7% | -97.0% |
| Volatility (ann.) | 83.9% | 95.1% |
| Beta vs S&P 500 | 2.07 | 0.96 |
| Max drawdown (3Y) | -78.3% | -83.1% |
| Market cap | $4.6B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MARA | NCTY |
|---|---|---|
| 2022 | -89.6% | -91.5% |
| 2023 | +586.8% | +31.4% |
| 2024 | -28.6% | +94.1% |
| 2025 | -46.5% | -56.2% |
| 2026 | +32.2% | -26.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MARA and NCTY good diversifiers for each other?
Reasonably. At 0.33, MARA and NCTY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MARA and NCTY?
As of 2026-08-27, the correlation of weekly returns between MARA and NCTY is 0.33 over 3 years, 0.20 over 1 year and 0.50 over 5 years.
Is NCTY a good diversifier for MARA?
Reasonably. At 0.33, MARA and NCTY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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/mara-vs-ncty.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mara-vs-ncty/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MARA correlations · NCTY correlations
