MI vs NGEN: Correlation
How closely do NFT Limited Class A (MI) and NervGen Pharma Corp. (NGEN) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MI and NGEN?
On 3 years of weekly data the MI/NGEN correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.43 versus -0.29 over 3 years. The 5-year figure is -0.25, and annualized covariance runs at -108421.6 %².
Among the 32 assets we track against MI, NGEN sits near the bottom by co-movement, at rank #29. On 12-month performance NGEN holds a 7.2-point edge, -10.3% against -3.1%. Risk is not evenly split, since MI carries 52.5 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.
MI vs NGEN: side by side
| MI (NFT Limited Class A) | NGEN (NervGen Pharma Corp.) | |
|---|---|---|
| 1-year return | -10.3% | -3.1% |
| 5-year return | -99.5% | +44.1% |
| Volatility (ann.) | 4443.9% | 84.7% |
| Beta vs S&P 500 | 8.21 | 0.57 |
| Max drawdown (3Y) | -98.5% | -73.4% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MI | NGEN |
|---|---|---|
| 2022 | -86.4% | -44.1% |
| 2023 | -66.2% | +71.4% |
| 2024 | -61.9% | +6.9% |
| 2025 | +13.3% | +156.9% |
| 2026 | -28.9% | -58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MI and NGEN good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MI and NGEN?
The MI/NGEN correlation stands at -0.29 on a 3-year window (1 year: -0.43, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is NGEN a good diversifier for MI?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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/mi-vs-ngen.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mi-vs-ngen/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MI correlations · NGEN correlations
