NCI vs PSNY: Correlation
How closely do Neo-Concept International Group Holdings Limited - Class A (NCI) and Polestar Automotive Holding UK Limited - Class A (PSNY) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCI and PSNY?
On 3 years of weekly data the NCI/PSNY correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -3574.7 %².
Among the 20 assets we track against NCI, PSNY ranks #15 by 3-year correlation. The last year tells two different stories: NCI led by 62.1 percentage points, -5.8% for NCI against -67.9% for PSNY. One caveat on sizing: NCI is 2.0 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.
NCI vs PSNY: side by side
| NCI (Neo-Concept International Group Holdings Limited - Class A) | PSNY (Polestar Automotive Holding UK Limited - Class A) | |
|---|---|---|
| 1-year return | -5.8% | -67.9% |
| 5-year return | n/a | -95.8% |
| Volatility (ann.) | 184.4% | 93.2% |
| Beta vs S&P 500 | -0.24 | 1.64 |
| Max drawdown (3Y) | -99.0% | -89.5% |
| Market cap | – | $1.8B |
| P/E (trailing) | 154.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCI | PSNY |
|---|---|---|
| 2022 | – | -54.6% |
| 2023 | – | -57.4% |
| 2024 | – | -53.5% |
| 2025 | -65.8% | -32.2% |
| 2026 | +36.7% | -41.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCI and PSNY good diversifiers for each other?
Yes. With a correlation of -0.21, NCI and PSNY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NCI and PSNY?
The NCI/PSNY correlation stands at -0.21 on a 3-year window (1 year: -0.29, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PSNY a good diversifier for NCI?
Yes. With a correlation of -0.21, NCI and PSNY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 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/nci-vs-psny.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nci-vs-psny/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NCI correlations · PSNY correlations
