NCI vs STE: Correlation
Measured on weekly returns over the past three years, Neo-Concept International Group Holdings Limited - Class A (NCI) and Steris (STE) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCI and STE?
Over the past 3 years, NCI and STE moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -776.9 %².
Among the 20 assets we track against NCI, STE ranks #14 by 3-year correlation. Twelve-month performance is nearly a tie, at -5.8% for NCI and -5.7% for STE. Risk is not evenly split, since NCI carries 8.3 times the volatility of the other side.
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 STE: side by side
| NCI (Neo-Concept International Group Holdings Limited - Class A) | STE (Steris) | |
|---|---|---|
| 1-year return | -5.8% | -5.7% |
| 5-year return | n/a | +13.6% |
| Volatility (ann.) | 184.4% | 22.3% |
| Beta vs S&P 500 | -0.24 | 0.43 |
| Max drawdown (3Y) | -99.0% | -25.4% |
| Market cap | – | $22.7B |
| P/E (trailing) | 154.5 | 28.5 |
| Dividend yield | 0.00% | 1.06% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | NCI | STE |
|---|---|---|
| 2022 | – | -23.4% |
| 2023 | – | +20.2% |
| 2024 | – | -5.6% |
| 2025 | -65.8% | +24.3% |
| 2026 | +36.7% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCI and STE good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between NCI and STE?
The NCI/STE correlation stands at -0.19 on a 3-year window (1 year: -0.23, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is STE a good diversifier for NCI?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nci-vs-ste/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NCI correlations · STE correlations
