NCI vs RELY: Correlation
How closely do Neo-Concept International Group Holdings Limited - Class A (NCI) and Remitly Global, Inc. (RELY) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCI and RELY?
On 3 years of weekly data the NCI/RELY correlation comes out at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 3870.8 %².
Within NCI's tracked universe of 20 assets, RELY comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RELY ahead by 47.1 points (-5.8% versus +41.3%). Note the risk asymmetry: NCI runs 3.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 RELY: side by side
| NCI (Neo-Concept International Group Holdings Limited - Class A) | RELY (Remitly Global, Inc.) | |
|---|---|---|
| 1-year return | -5.8% | +41.3% |
| 5-year return | n/a | -46.4% |
| Volatility (ann.) | 184.4% | 52.6% |
| Beta vs S&P 500 | -0.24 | 0.90 |
| Max drawdown (3Y) | -99.0% | -57.9% |
| Market cap | – | $5.5B |
| P/E (trailing) | 154.5 | 18.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCI | RELY |
|---|---|---|
| 2022 | – | -44.5% |
| 2023 | – | +69.6% |
| 2024 | – | +16.2% |
| 2025 | -65.8% | -38.9% |
| 2026 | +36.7% | +88.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCI and RELY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NCI and RELY?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.48 over the last year and n/a over 5 years.
Is RELY a good diversifier for NCI?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nci-vs-rely.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nci-vs-rely/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NCI correlations · RELY correlations
