NCEL vs NWTG: Correlation
Measured on weekly returns over the past three years, NewcelX Ltd. (NCEL) and Newton Golf Company, Inc. (NWTG) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCEL and NWTG?
On 3 years of weekly data the NCEL/NWTG correlation comes out at 0.27, weak. Little has changed lately, as the 1-year reading of 0.21 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 4612.5 %².
Within NCEL's tracked universe of 10 assets, NWTG comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NWTG outperformed by 52.0 percentage points (-84.6% for NCEL against -32.6% for NWTG).
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.
NCEL vs NWTG: side by side
| NCEL (NewcelX Ltd.) | NWTG (Newton Golf Company, Inc.) | |
|---|---|---|
| 1-year return | -84.6% | -32.6% |
| 5-year return | -99.6% | n/a |
| Volatility (ann.) | 118.9% | 142.1% |
| Beta vs S&P 500 | 0.68 | 0.76 |
| Max drawdown (3Y) | -99.6% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCEL | NWTG |
|---|---|---|
| 2022 | +16.2% | – |
| 2023 | -54.3% | – |
| 2024 | -91.1% | -93.9% |
| 2025 | -91.0% | -88.1% |
| 2026 | +80.0% | -17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCEL and NWTG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NCEL and NWTG?
The NCEL/NWTG correlation stands at 0.27 on a 3-year window (1 year: 0.21, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NWTG a good diversifier for NCEL?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ncel-vs-nwtg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ncel-vs-nwtg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NCEL correlations · NWTG correlations
