MAYS vs NCI: Correlation
Measured on weekly returns over the past three years, J. W. Mays, Inc. (MAYS) and Neo-Concept International Group Holdings Limited - Class A (NCI) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAYS and NCI?
On 3 years of weekly data the MAYS/NCI correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.45 over 3. The 5-year figure is n/a, and annualized covariance runs at 3028.9 %².
Few assets follow MAYS as closely as NCI, which ranks #3 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months MAYS outperformed by 18.7 percentage points (+12.9% for MAYS against -5.8% for NCI). Note the risk asymmetry: NCI runs 5.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MAYS vs NCI: side by side
| MAYS (J. W. Mays, Inc.) | NCI (Neo-Concept International Group Holdings Limited - Class A) | |
|---|---|---|
| 1-year return | +12.9% | -5.8% |
| 5-year return | +34.4% | n/a |
| Volatility (ann.) | 33.2% | 184.4% |
| Beta vs S&P 500 | 0.03 | -0.24 |
| Max drawdown (3Y) | -30.9% | -99.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 154.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAYS | NCI |
|---|---|---|
| 2022 | +18.4% | – |
| 2023 | -12.7% | – |
| 2024 | +4.8% | – |
| 2025 | -9.2% | -65.8% |
| 2026 | +5.7% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAYS and NCI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MAYS and NCI?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.49 over the last year and n/a over 5 years.
Is NCI a good diversifier for MAYS?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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: MAYS correlations · NCI correlations
