NCMI vs PLNT: Correlation
How closely do National CineMedia, Inc. (NCMI) and Planet Fitness, Inc. (PLNT) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCMI and PLNT?
Across a 3-year window, the weekly returns of NCMI and PLNT correlate at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.36 lands near the 3-year figure. Stretching to 5 years gives 0.07, with an annualized covariance of -548.7 %².
Out of 10 assets tracked against NCMI, PLNT lands near the bottom at #8. Over the last 12 months NCMI came out ahead by 10.5 percentage points (-40.6% against -51.1%).
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.
NCMI vs PLNT: side by side
| NCMI (National CineMedia, Inc.) | PLNT (Planet Fitness, Inc.) | |
|---|---|---|
| 1-year return | -40.6% | -51.1% |
| 5-year return | -88.8% | -36.6% |
| Volatility (ann.) | 51.6% | 39.0% |
| Beta vs S&P 500 | 0.73 | 0.42 |
| Max drawdown (3Y) | -68.9% | -61.2% |
| Market cap | $0.2B | $3.9B |
| P/E (trailing) | – | 17.6 |
| Dividend yield | 3.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCMI | PLNT |
|---|---|---|
| 2022 | -91.7% | -13.0% |
| 2023 | +88.2% | -7.4% |
| 2024 | +60.4% | +35.4% |
| 2025 | -39.9% | +9.7% |
| 2026 | -34.5% | -52.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCMI and PLNT good diversifiers for each other?
Yes. With a correlation of -0.27, NCMI and PLNT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NCMI and PLNT?
The NCMI/PLNT correlation stands at -0.27 on a 3-year window (1 year: -0.36, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is PLNT a good diversifier for NCMI?
Yes. With a correlation of -0.27, NCMI and PLNT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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
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Related comparisons
Hubs: NCMI correlations · PLNT correlations
