MCRI vs NAK: Correlation
How closely do Monarch Casino & Resort, Inc. (MCRI) and Northern Dynasty Minerals, Ltd. (NAK) 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 MCRI and NAK?
Over the past 3 years, MCRI and NAK moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.19) sits close to the 3-year figure. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -606.4 %².
NAK is close to the least connected end of MCRI's tracked universe, ranking #8 of 11. Correlation aside, the last 12 months split them widely, with NAK ahead by 78.0 points (+18.6% versus +96.6%). Risk is not evenly split, since NAK carries 3.6 times the volatility of the other side.
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.
MCRI vs NAK: side by side
| MCRI (Monarch Casino & Resort, Inc.) | NAK (Northern Dynasty Minerals, Ltd.) | |
|---|---|---|
| 1-year return | +18.6% | +96.6% |
| 5-year return | +113.4% | +326.8% |
| Volatility (ann.) | 27.2% | 96.9% |
| Beta vs S&P 500 | 0.65 | 1.03 |
| Max drawdown (3Y) | -23.1% | -67.8% |
| Market cap | $2.2B | $1.0B |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 0.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MCRI | NAK |
|---|---|---|
| 2022 | +4.0% | -33.3% |
| 2023 | -2.6% | +45.5% |
| 2024 | +16.0% | +81.2% |
| 2025 | +22.9% | +239.7% |
| 2026 | +29.9% | -11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCRI and NAK good diversifiers for each other?
Yes. With a correlation of -0.23, MCRI and NAK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MCRI and NAK?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.19 over the last year and -0.07 over 5 years.
Is NAK a good diversifier for MCRI?
Yes. With a correlation of -0.23, MCRI and NAK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/mcri-vs-nak.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mcri-vs-nak/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MCRI correlations · NAK correlations
