NA vs STRW: Correlation
How closely do Nano Labs Ltd - Class A (NA) and Strawberry Fields REIT, Inc. (STRW) 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 STRW?
On 3 years of weekly data the NA/STRW correlation comes out at 0.31, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.02 versus 0.31 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 1815.8 %².
By 3-year correlation, STRW places #9 of the 17 assets tracked against NA. Their recent paths diverged sharply: over the last 12 months STRW outperformed by 87.7 percentage points (-65.3% for NA against +22.4% for STRW). One caveat on sizing: NA is 5.6 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.
NA vs STRW: side by side
| NA (Nano Labs Ltd - Class A) | STRW (Strawberry Fields REIT, Inc.) | |
|---|---|---|
| 1-year return | -65.3% | +22.4% |
| 5-year return | -98.2% | n/a |
| Volatility (ann.) | 181.1% | 32.1% |
| Beta vs S&P 500 | 0.36 | 0.19 |
| Max drawdown (3Y) | -92.7% | -26.6% |
| Market cap | – | $0.8B |
| P/E (trailing) | 2.1 | 21.1 |
| Dividend yield | 0.00% | 2.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NA | STRW |
|---|---|---|
| 2023 | +57.4% | – |
| 2024 | -50.5% | +43.9% |
| 2025 | -64.8% | +30.5% |
| 2026 | -32.7% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NA and STRW good diversifiers for each other?
Reasonably. At 0.31, NA and STRW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NA and STRW?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with -0.02 over the last year and n/a over 5 years.
Is STRW a good diversifier for NA?
Reasonably. At 0.31, NA and STRW 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.
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Related comparisons
Hubs: NA correlations · STRW correlations
