NATL vs RYAM: Correlation
Measured on weekly returns over the past three years, NCR Atleos Corporation (NATL) and Rayonier Advanced Materials Inc. (RYAM) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NATL and RYAM?
Across a 3-year window, the weekly returns of NATL and RYAM correlate at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 827.3 %².
By 3-year correlation, RYAM places #5 of the 11 assets tracked against NATL. Their recent paths diverged sharply: over the last 12 months RYAM outperformed by 45.3 percentage points (+14.2% for NATL against +59.5% for RYAM). One caveat on sizing: RYAM is 1.7 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.
NATL vs RYAM: side by side
| NATL (NCR Atleos Corporation) | RYAM (Rayonier Advanced Materials Inc.) | |
|---|---|---|
| 1-year return | +14.2% | +59.5% |
| 5-year return | n/a | +22.2% |
| Volatility (ann.) | 36.3% | 60.5% |
| Beta vs S&P 500 | 0.75 | 1.27 |
| Max drawdown (3Y) | -34.7% | -63.7% |
| Market cap | $3.4B | $0.6B |
| P/E (trailing) | 17.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NATL | RYAM |
|---|---|---|
| 2022 | – | +68.1% |
| 2023 | – | -57.8% |
| 2024 | +39.6% | +103.7% |
| 2025 | +12.4% | -28.6% |
| 2026 | +20.7% | +43.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NATL and RYAM good diversifiers for each other?
Reasonably. At 0.39, NATL and RYAM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NATL and RYAM?
As of 2026-08-27, the correlation of weekly returns between NATL and RYAM is 0.39 over 3 years, 0.42 over 1 year and n/a over 5 years.
Is RYAM a good diversifier for NATL?
Reasonably. At 0.39, NATL and RYAM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: NATL correlations · RYAM correlations
