NBXG vs NTAP: Correlation
How closely do Neuberger Next Generation Connectivity Fund Inc. (NBXG) and NetApp (NTAP) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBXG and NTAP?
On 3 years of weekly data the NBXG/NTAP correlation comes out at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.39) runs below the 3-year figure (0.54). The 5-year figure is 0.52, and annualized covariance runs at 457.3 %².
Within NBXG's tracked universe of 31 assets, NTAP comes in at #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NTAP outperformed by 59.2 percentage points (+13.8% for NBXG against +73.0% for NTAP). One caveat on sizing: NTAP 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.
NBXG vs NTAP: side by side
| NBXG (Neuberger Next Generation Connectivity Fund Inc.) | NTAP (NetApp) | |
|---|---|---|
| 1-year return | +13.8% | +73.0% |
| 5-year return | +25.6% | +141.7% |
| Volatility (ann.) | 22.4% | 37.6% |
| Beta vs S&P 500 | 1.28 | 1.38 |
| Max drawdown (3Y) | -22.1% | -42.6% |
| Market cap | $1.2B | $37.4B |
| P/E (trailing) | 3.4 | 30.5 |
| Dividend yield | 0.00% | 1.07% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | NBXG | NTAP |
|---|---|---|
| 2022 | -41.4% | -32.9% |
| 2023 | +34.9% | +51.1% |
| 2024 | +28.5% | +34.2% |
| 2025 | +24.2% | -5.9% |
| 2026 | +13.0% | +80.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBXG and NTAP good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NBXG and NTAP?
The NBXG/NTAP correlation stands at 0.54 on a 3-year window (1 year: 0.39, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is NTAP a good diversifier for NBXG?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nbxg-vs-ntap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbxg-vs-ntap/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NBXG correlations · NTAP correlations
