NCPL vs PHI: Correlation
Measured on weekly returns over the past three years, Netcapital Inc. (NCPL) and PLDT Inc. Sponsored ADR (PHI) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCPL and PHI?
Over the past 3 years, NCPL and PHI moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.23). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -833.0 %².
Among the 10 assets we track against NCPL, PHI sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with PHI ahead by 66.2 points (-74.4% versus -8.2%). Risk is not evenly split, since NCPL carries 6.4 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.
NCPL vs PHI: side by side
| NCPL (Netcapital Inc.) | PHI (PLDT Inc. Sponsored ADR) | |
|---|---|---|
| 1-year return | -74.4% | -8.2% |
| 5-year return | -99.9% | -17.6% |
| Volatility (ann.) | 152.6% | 24.0% |
| Beta vs S&P 500 | 1.81 | 0.22 |
| Max drawdown (3Y) | -99.4% | -33.7% |
| Market cap | – | – |
| P/E (trailing) | – | 9.4 |
| Dividend yield | 0.00% | 494.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCPL | PHI |
|---|---|---|
| 2022 | -90.0% | -31.7% |
| 2023 | -85.9% | +11.9% |
| 2024 | -86.0% | +0.8% |
| 2025 | -68.3% | +1.5% |
| 2026 | -18.4% | -14.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCPL and PHI good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NCPL and PHI?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.37 over the last year and -0.11 over 5 years.
Is PHI a good diversifier for NCPL?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
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.
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Related comparisons
Hubs: NCPL correlations · PHI correlations
