MBBC vs NCEL: Correlation
Marathon Bancorp, Inc. (MBBC) and NewcelX Ltd. (NCEL) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBBC and NCEL?
On 3 years of weekly data the MBBC/NCEL correlation comes out at 0.28, weak. The relationship has been stable: the 1-year correlation (0.19) sits close to the 3-year figure. The 5-year figure is 0.23, and annualized covariance runs at 1043.0 %².
Among the 13 assets we track against MBBC, NCEL ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MBBC outperformed by 132.9 percentage points (+48.3% for MBBC against -84.6% for NCEL). One caveat on sizing: NCEL is 3.8 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.
MBBC vs NCEL: side by side
| MBBC (Marathon Bancorp, Inc.) | NCEL (NewcelX Ltd.) | |
|---|---|---|
| 1-year return | +48.3% | -84.6% |
| 5-year return | +103.0% | -99.6% |
| Volatility (ann.) | 31.3% | 118.9% |
| Beta vs S&P 500 | -0.07 | 0.68 |
| Max drawdown (3Y) | -28.3% | -99.6% |
| Market cap | – | – |
| P/E (trailing) | 36.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MBBC | NCEL |
|---|---|---|
| 2022 | +4.7% | +16.2% |
| 2023 | -17.0% | -54.3% |
| 2024 | +49.9% | -91.1% |
| 2025 | +19.2% | -91.0% |
| 2026 | +26.6% | +80.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBBC and NCEL good diversifiers for each other?
Reasonably. At 0.28, MBBC and NCEL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MBBC and NCEL?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.19 over the last year and 0.23 over 5 years.
Is NCEL a good diversifier for MBBC?
Reasonably. At 0.28, MBBC and NCEL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mbbc-vs-ncel.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mbbc-vs-ncel/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MBBC correlations · NCEL correlations
