NCRA vs TFSL: Correlation
Measured on weekly returns over the past three years, Nocera, Inc. (NCRA) and TFS Financial Corporation (TFSL) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCRA and TFSL?
On 3 years of weekly data the NCRA/TFSL correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. The 5-year figure is -0.08, and annualized covariance runs at -442.0 %².
TFSL is close to the least connected end of NCRA's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months TFSL outperformed by 132.3 percentage points (-96.1% for NCRA against +36.2% for TFSL). Note the risk asymmetry: NCRA runs 4.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NCRA vs TFSL: side by side
| NCRA (Nocera, Inc.) | TFSL (TFS Financial Corporation) | |
|---|---|---|
| 1-year return | -96.1% | +36.2% |
| 5-year return | -99.1% | +35.4% |
| Volatility (ann.) | 92.8% | 23.1% |
| Beta vs S&P 500 | 1.42 | 0.49 |
| Max drawdown (3Y) | -97.7% | -21.3% |
| Market cap | – | $5.0B |
| P/E (trailing) | – | 49.7 |
| Dividend yield | 0.00% | 6.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCRA | TFSL |
|---|---|---|
| 2022 | -85.8% | -13.0% |
| 2023 | +3.1% | +11.2% |
| 2024 | -35.9% | -6.7% |
| 2025 | +0.4% | +16.0% |
| 2026 | -93.1% | +39.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCRA and TFSL good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between NCRA and TFSL?
As of 2026-08-27, the correlation of weekly returns between NCRA and TFSL is -0.21 over 3 years, -0.28 over 1 year and -0.08 over 5 years.
Is TFSL a good diversifier for NCRA?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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: NCRA correlations · TFSL correlations
