MRAM vs NL: Correlation
Measured on weekly returns over the past three years, Everspin Technologies, Inc. (MRAM) and NLI Holdings, Inc. (NL) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRAM and NL?
Across a 3-year window, the weekly returns of MRAM and NL correlate at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 1052.7 %².
Among the 22 assets we track against MRAM, NL ranks #10 by 3-year correlation. The last year tells two different stories: MRAM led by 169.6 percentage points, +173.2% for MRAM against +3.6% for NL. Note the risk asymmetry: MRAM runs 1.7 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.
MRAM vs NL: side by side
| MRAM (Everspin Technologies, Inc.) | NL (NLI Holdings, Inc.) | |
|---|---|---|
| 1-year return | +173.2% | +3.6% |
| 5-year return | +134.7% | +41.5% |
| Volatility (ann.) | 69.5% | 41.2% |
| Beta vs S&P 500 | 1.58 | 0.73 |
| Max drawdown (3Y) | -70.6% | -38.9% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 5.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRAM | NL |
|---|---|---|
| 2022 | -50.8% | -1.3% |
| 2023 | +62.6% | -13.5% |
| 2024 | -29.3% | +54.9% |
| 2025 | +45.2% | -23.0% |
| 2026 | +88.1% | +23.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRAM and NL good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MRAM and NL?
As of 2026-08-27, the correlation of weekly returns between MRAM and NL is 0.37 over 3 years, 0.45 over 1 year and 0.28 over 5 years.
Is NL a good diversifier for MRAM?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/mram-vs-nl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mram-vs-nl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MRAM correlations · NL correlations
