NCLH vs VIK: Correlation
Measured on weekly returns over the past three years, Norwegian Cruise Line Holdings (NCLH) and Viking Holdings Ltd (VIK) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCLH and VIK?
Across a 3-year window, the weekly returns of NCLH and VIK correlate at 0.68, strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.68 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 1091.3 %².
Few assets follow NCLH as closely as VIK, which ranks #3 of 35 tracked partners. The last year tells two different stories: VIK led by 75.8 percentage points, -33.1% for NCLH against +42.7% for VIK.
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 VIK: side by side
| NCLH (Norwegian Cruise Line Holdings) | VIK (Viking Holdings Ltd) | |
|---|---|---|
| 1-year return | -33.1% | +42.7% |
| 5-year return | -34.4% | n/a |
| Volatility (ann.) | 49.9% | 33.6% |
| Beta vs S&P 500 | 1.52 | 1.31 |
| Max drawdown (3Y) | -49.1% | -35.4% |
| Market cap | $7.6B | $40.1B |
| P/E (trailing) | 10.1 | 30.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | NCLH | VIK |
|---|---|---|
| 2022 | -41.0% | – |
| 2023 | +63.7% | – |
| 2024 | +28.4% | – |
| 2025 | -13.3% | +62.1% |
| 2026 | -25.4% | +25.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCLH and VIK good diversifiers for each other?
Only partially. A correlation of 0.68 means NCLH and VIK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NCLH and VIK?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.68 over the last year and n/a over 5 years.
Is VIK a good diversifier for NCLH?
Only partially. A correlation of 0.68 means NCLH and VIK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 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-vik.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nclh-vs-vik/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NCLH correlations · VIK correlations
