NCLH vs PNC: Correlation
Norwegian Cruise Line Holdings (NCLH) and PNC Financial Services (PNC) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCLH and PNC?
Across a 3-year window, the weekly returns of NCLH and PNC correlate at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.47 versus 0.58 over 3 years. Stretching to 5 years gives 0.51, with an annualized covariance of 740.7 %².
Within NCLH's tracked universe of 35 assets, PNC comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PNC outperformed by 55.2 percentage points (-33.1% for NCLH against +22.1% for PNC). The rolling one-year correlation moved between 0.40 and 0.71 over the past three years, a moderate range. One caveat on sizing: NCLH is 1.9 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.
NCLH vs PNC: side by side
| NCLH (Norwegian Cruise Line Holdings) | PNC (PNC Financial Services) | |
|---|---|---|
| 1-year return | -33.1% | +22.1% |
| 5-year return | -34.4% | +53.5% |
| Volatility (ann.) | 49.9% | 25.6% |
| Beta vs S&P 500 | 1.52 | 0.92 |
| Max drawdown (3Y) | -49.1% | -29.8% |
| Market cap | $7.6B | $97.1B |
| P/E (trailing) | 10.1 | 13.5 |
| Dividend yield | 0.00% | 2.78% |
| Sector / category | Consumer Discretionary | Financials |
Year-by-year returns
| Year | NCLH | PNC |
|---|---|---|
| 2022 | -41.0% | -18.6% |
| 2023 | +63.7% | +2.7% |
| 2024 | +28.4% | +29.4% |
| 2025 | -13.3% | +12.2% |
| 2026 | -25.4% | +19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCLH and PNC good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NCLH and PNC?
The NCLH/PNC correlation stands at 0.58 on a 3-year window (1 year: 0.47, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is PNC a good diversifier for NCLH?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 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/nclh-vs-pnc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nclh-vs-pnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NCLH correlations · PNC correlations
