MRNO vs NL: Correlation
Measured on weekly returns over the past three years, Murano Global Investments PLC (MRNO) and NLI Holdings, Inc. (NL) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRNO and NL?
On 3 years of weekly data the MRNO/NL correlation comes out at 0.45, moderate. The past 12 months show a tighter link (0.65) than the 3-year average (0.45). The 5-year figure is 0.38, and annualized covariance runs at 3188.2 %².
NL is one of the assets that tracks MRNO most closely: it ranks #3 out of the 10 assets we track against MRNO. The last year tells two different stories: NL led by 100.0 percentage points, -96.4% for MRNO against +3.6% for NL. Risk is not evenly split, since MRNO carries 4.1 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.
MRNO vs NL: side by side
| MRNO (Murano Global Investments PLC) | NL (NLI Holdings, Inc.) | |
|---|---|---|
| 1-year return | -96.4% | +3.6% |
| 5-year return | -97.9% | +41.5% |
| Volatility (ann.) | 170.9% | 41.2% |
| Beta vs S&P 500 | 1.65 | 0.73 |
| Max drawdown (3Y) | -99.1% | -38.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 5.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRNO | NL |
|---|---|---|
| 2022 | – | -1.3% |
| 2023 | +9.0% | -13.5% |
| 2024 | -8.4% | +54.9% |
| 2025 | -94.4% | -23.0% |
| 2026 | -63.2% | +23.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRNO and NL good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MRNO and NL?
As of 2026-08-27, the correlation of weekly returns between MRNO and NL is 0.45 over 3 years, 0.65 over 1 year and 0.38 over 5 years.
Is NL a good diversifier for MRNO?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mrno-vs-nl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mrno-vs-nl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MRNO correlations · NL correlations
