MCK vs NMTC: Correlation
How closely do McKesson Corporation (MCK) and NeuroOne Medical Technologies Corporation (NMTC) 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 MCK and NMTC?
Over the past 3 years, MCK and NMTC 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 (-0.38) than the 3-year average (-0.23). Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -476.8 %².
Among the 35 assets we track against MCK, NMTC ranks #28 by 3-year correlation. The last year tells two different stories: MCK led by 86.8 percentage points, +30.8% for MCK against -56.0% for NMTC. Note the risk asymmetry: NMTC runs 3.3 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.
MCK vs NMTC: side by side
| MCK (McKesson Corporation) | NMTC (NeuroOne Medical Technologies Corporation) | |
|---|---|---|
| 1-year return | +30.8% | -56.0% |
| 5-year return | +354.8% | -91.3% |
| Volatility (ann.) | 25.1% | 83.8% |
| Beta vs S&P 500 | 0.16 | 1.16 |
| Max drawdown (3Y) | -27.2% | -86.8% |
| Market cap | $103.8B | – |
| P/E (trailing) | 24.0 | – |
| Dividend yield | 0.37% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MCK | NMTC |
|---|---|---|
| 2022 | +51.8% | -38.1% |
| 2023 | +24.1% | +31.7% |
| 2024 | +23.7% | -47.7% |
| 2025 | +44.5% | -8.2% |
| 2026 | +8.8% | -56.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCK and NMTC 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 MCK and NMTC?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.38 over the last year and -0.10 over 5 years.
Is NMTC a good diversifier for MCK?
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?
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/mck-vs-nmtc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mck-vs-nmtc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MCK correlations · NMTC correlations
