NCI vs XYL: Correlation
How closely do Neo-Concept International Group Holdings Limited - Class A (NCI) and Xylem Inc. (XYL) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCI and XYL?
Across a 3-year window, the weekly returns of NCI and XYL correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.23 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -1048.4 %².
Out of 20 assets tracked against NCI, XYL lands near the bottom at #16. The last year tells two different stories: NCI led by 15.3 percentage points, -5.8% for NCI against -21.1% for XYL. Note the risk asymmetry: NCI runs 7.7 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 XYL: side by side
| NCI (Neo-Concept International Group Holdings Limited - Class A) | XYL (Xylem Inc.) | |
|---|---|---|
| 1-year return | -5.8% | -21.1% |
| 5-year return | n/a | -12.5% |
| Volatility (ann.) | 184.4% | 23.9% |
| Beta vs S&P 500 | -0.24 | 0.96 |
| Max drawdown (3Y) | -99.0% | -30.0% |
| Market cap | – | $26.3B |
| P/E (trailing) | 154.5 | 26.8 |
| Dividend yield | 0.00% | 1.47% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | NCI | XYL |
|---|---|---|
| 2022 | – | -6.6% |
| 2023 | – | +4.8% |
| 2024 | – | +2.6% |
| 2025 | -65.8% | +18.8% |
| 2026 | +36.7% | -16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCI and XYL good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between NCI and XYL?
As of 2026-08-27, the correlation of weekly returns between NCI and XYL is -0.23 over 3 years, -0.39 over 1 year and n/a over 5 years.
Is XYL a good diversifier for NCI?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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-xyl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nci-vs-xyl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NCI correlations · XYL correlations
