NA vs SBC: Correlation
How closely do Nano Labs Ltd - Class A (NA) and SBC Medical Group Holdings Incorporated (SBC) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NA and SBC?
Across a 3-year window, the weekly returns of NA and SBC correlate at 0.31, moderate. The link has loosened recently: the 1-year correlation (0.08) runs below the 3-year figure (0.31). Stretching to 5 years gives 0.30, with an annualized covariance of 4579.7 %².
Within NA's tracked universe of 17 assets, SBC comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SBC outperformed by 63.6 percentage points (-65.3% for NA against -1.7% for SBC). Risk is not evenly split, since NA carries 2.2 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.
NA vs SBC: side by side
| NA (Nano Labs Ltd - Class A) | SBC (SBC Medical Group Holdings Incorporated) | |
|---|---|---|
| 1-year return | -65.3% | -1.7% |
| 5-year return | -98.2% | n/a |
| Volatility (ann.) | 181.1% | 81.1% |
| Beta vs S&P 500 | 0.36 | 0.56 |
| Max drawdown (3Y) | -92.7% | -82.1% |
| Market cap | – | $0.4B |
| P/E (trailing) | 2.1 | 8.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NA | SBC |
|---|---|---|
| 2023 | +57.4% | +5.6% |
| 2024 | -50.5% | -48.4% |
| 2025 | -64.8% | -22.5% |
| 2026 | -32.7% | -4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NA and SBC good diversifiers for each other?
Reasonably. At 0.31, NA and SBC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NA and SBC?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.08 over the last year and 0.30 over 5 years.
Is SBC a good diversifier for NA?
Reasonably. At 0.31, NA and SBC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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/na-vs-sbc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/na-vs-sbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NA correlations · SBC correlations
