NCEL vs TRT: Correlation
NewcelX Ltd. (NCEL) and Trio-Tech International (TRT) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCEL and TRT?
Over the past 3 years, NCEL and TRT moved with a correlation of 0.32, which is moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.32). Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 4101.8 %².
Few assets follow NCEL as closely as TRT, which ranks #2 of 10 tracked partners. The last year tells two different stories: TRT led by 380.1 percentage points, -84.6% for NCEL against +295.5% for TRT.
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 TRT: side by side
| NCEL (NewcelX Ltd.) | TRT (Trio-Tech International) | |
|---|---|---|
| 1-year return | -84.6% | +295.5% |
| 5-year return | -99.6% | +365.8% |
| Volatility (ann.) | 118.9% | 107.4% |
| Beta vs S&P 500 | 0.68 | 0.18 |
| Max drawdown (3Y) | -99.6% | -54.6% |
| Market cap | – | – |
| P/E (trailing) | – | 209.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCEL | TRT |
|---|---|---|
| 2022 | +16.2% | -66.5% |
| 2023 | -54.3% | +12.7% |
| 2024 | -91.1% | +14.6% |
| 2025 | -91.0% | +127.9% |
| 2026 | +80.0% | +58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCEL and TRT good diversifiers for each other?
Reasonably. At 0.32, NCEL and TRT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NCEL and TRT?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.52 over the last year and 0.23 over 5 years.
Is TRT a good diversifier for NCEL?
Reasonably. At 0.32, NCEL and TRT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 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/ncel-vs-trt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ncel-vs-trt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NCEL correlations · TRT correlations
