NATL vs OXBR: Correlation
Measured on weekly returns over the past three years, NCR Atleos Corporation (NATL) and Oxbridge Re Holdings Limited (OXBR) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NATL and OXBR?
Across a 3-year window, the weekly returns of NATL and OXBR correlate at 0.31, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.11 versus 0.31 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 980.9 %².
Within NATL's tracked universe of 11 assets, OXBR comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NATL ahead by 54.6 points (+14.2% versus -40.4%). Note the risk asymmetry: OXBR runs 2.4 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.
NATL vs OXBR: side by side
| NATL (NCR Atleos Corporation) | OXBR (Oxbridge Re Holdings Limited) | |
|---|---|---|
| 1-year return | +14.2% | -40.4% |
| 5-year return | n/a | -58.6% |
| Volatility (ann.) | 36.3% | 88.3% |
| Beta vs S&P 500 | 0.75 | 1.20 |
| Max drawdown (3Y) | -34.7% | -87.5% |
| Market cap | $3.4B | – |
| P/E (trailing) | 17.8 | 63.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NATL | OXBR |
|---|---|---|
| 2022 | – | -78.6% |
| 2023 | – | -8.3% |
| 2024 | +39.6% | +274.6% |
| 2025 | +12.4% | -68.0% |
| 2026 | +20.7% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NATL and OXBR good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NATL and OXBR?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.11 over the last year and n/a over 5 years.
Is OXBR a good diversifier for NATL?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NATL correlations · OXBR correlations
