NCSM vs RNGR: Correlation
How closely do NCS Multistage Holdings, Inc. (NCSM) and Ranger Energy Services, Inc. (RNGR) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCSM and RNGR?
On 3 years of weekly data the NCSM/RNGR correlation comes out at 0.33, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.33 over 3. The 5-year figure is 0.24, and annualized covariance runs at 798.5 %².
RNGR is one of the assets that tracks NCSM most closely: it ranks #3 out of the 16 assets we track against NCSM. The last year tells two different stories: NCSM led by 15.5 percentage points, +34.5% for NCSM against +19.0% for RNGR. Risk is not evenly split, since NCSM carries 1.8 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.
NCSM vs RNGR: side by side
| NCSM (NCS Multistage Holdings, Inc.) | RNGR (Ranger Energy Services, Inc.) | |
|---|---|---|
| 1-year return | +34.5% | +19.0% |
| 5-year return | +112.6% | +129.0% |
| Volatility (ann.) | 66.0% | 37.1% |
| Beta vs S&P 500 | 0.05 | 0.49 |
| Max drawdown (3Y) | -53.3% | -40.5% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | 9.7 | 26.4 |
| Dividend yield | 0.00% | 1.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCSM | RNGR |
|---|---|---|
| 2022 | -13.8% | +7.2% |
| 2023 | -28.6% | -6.3% |
| 2024 | +45.4% | +53.9% |
| 2025 | +52.1% | -7.9% |
| 2026 | +28.6% | +18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCSM and RNGR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NCSM and RNGR?
The NCSM/RNGR correlation stands at 0.33 on a 3-year window (1 year: 0.36, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is RNGR a good diversifier for NCSM?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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
$ curl https://www.pairbook.io/api/v1/pairs/ncsm-vs-rngr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ncsm-vs-rngr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NCSM correlations · RNGR correlations
