MKZR vs NGVC: Correlation
How closely do MacKenzie Realty Capital, Inc. (MKZR) and Natural Grocers by Vitamin Cottage, Inc. (NGVC) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MKZR and NGVC?
Over the past 3 years, MKZR and NGVC moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.12 over 1 year against -0.20 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -984.2 %².
By 3-year correlation, NGVC places #12 of the 23 assets tracked against MKZR. Their recent paths diverged sharply: over the last 12 months NGVC outperformed by 45.9 percentage points (-75.7% for MKZR against -29.8% for NGVC). Risk is not evenly split, since MKZR carries 1.8 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.
MKZR vs NGVC: side by side
| MKZR (MacKenzie Realty Capital, Inc.) | NGVC (Natural Grocers by Vitamin Cottage, Inc.) | |
|---|---|---|
| 1-year return | -75.7% | -29.8% |
| 5-year return | n/a | +184.3% |
| Volatility (ann.) | 91.6% | 51.4% |
| Beta vs S&P 500 | 0.74 | 0.61 |
| Max drawdown (3Y) | -97.8% | -59.9% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 13.6 |
| Dividend yield | 0.00% | 2.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MKZR | NGVC |
|---|---|---|
| 2022 | – | -34.0% |
| 2023 | – | +91.8% |
| 2024 | – | +152.5% |
| 2025 | -86.7% | -36.1% |
| 2026 | -63.1% | +10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MKZR and NGVC good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MKZR and NGVC?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.12 over the last year and n/a over 5 years.
Is NGVC a good diversifier for MKZR?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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.
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Related comparisons
Hubs: MKZR correlations · NGVC correlations
