NCPL vs REAX: Correlation
How closely do Netcapital Inc. (NCPL) and Real REMAX Group Inc. (REAX) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCPL and REAX?
Over the past 3 years, NCPL and REAX moved with a correlation of 0.49, which is moderate. The link has tightened recently: the 1-year correlation (0.62) runs above the 3-year figure (0.49). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 34675.6 %².
Few assets follow NCPL as closely as REAX, which ranks #3 of 10 tracked partners. The last year tells two different stories: REAX led by 431.5 percentage points, -74.4% for NCPL against +357.1% for REAX. One caveat on sizing: REAX is 3.0 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.
NCPL vs REAX: side by side
| NCPL (Netcapital Inc.) | REAX (Real REMAX Group Inc.) | |
|---|---|---|
| 1-year return | -74.4% | +357.1% |
| 5-year return | -99.9% | +1133.9% |
| Volatility (ann.) | 152.6% | 463.3% |
| Beta vs S&P 500 | 1.81 | 1.90 |
| Max drawdown (3Y) | -99.4% | -76.1% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCPL | REAX |
|---|---|---|
| 2022 | -90.0% | -71.5% |
| 2023 | -85.9% | +52.4% |
| 2024 | -86.0% | +187.5% |
| 2025 | -68.3% | -20.7% |
| 2026 | -18.4% | +547.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCPL and REAX good diversifiers for each other?
Reasonably. At 0.49, NCPL and REAX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NCPL and REAX?
The NCPL/REAX correlation stands at 0.49 on a 3-year window (1 year: 0.62, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is REAX a good diversifier for NCPL?
Reasonably. At 0.49, NCPL and REAX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: NCPL correlations · REAX correlations
