MLEC vs NCI: Correlation
Moolec Science SA (MLEC) and Neo-Concept International Group Holdings Limited - Class A (NCI) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLEC and NCI?
Over the past 3 years, MLEC and NCI moved with a correlation of 0.38, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 7908.7 %².
By 3-year correlation, NCI places #4 of the 24 assets tracked against MLEC. The last year tells two different stories: NCI led by 58.5 percentage points, -64.3% for MLEC against -5.8% for NCI. One caveat on sizing: NCI is 1.8 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.
MLEC vs NCI: side by side
| MLEC (Moolec Science SA) | NCI (Neo-Concept International Group Holdings Limited - Class A) | |
|---|---|---|
| 1-year return | -64.3% | -5.8% |
| 5-year return | -99.5% | n/a |
| Volatility (ann.) | 104.4% | 184.4% |
| Beta vs S&P 500 | -0.21 | -0.24 |
| Max drawdown (3Y) | -99.3% | -99.0% |
| Market cap | – | – |
| P/E (trailing) | – | 154.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLEC | NCI |
|---|---|---|
| 2022 | +22.7% | – |
| 2023 | -79.7% | – |
| 2024 | -67.5% | – |
| 2025 | -96.8% | -65.8% |
| 2026 | +78.0% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLEC and NCI good diversifiers for each other?
Reasonably. At 0.38, MLEC and NCI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MLEC and NCI?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.48 over the last year and n/a over 5 years.
Is NCI a good diversifier for MLEC?
Reasonably. At 0.38, MLEC and NCI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/mlec-vs-nci.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mlec-vs-nci/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MLEC correlations · NCI correlations
