NCSM vs WTTR: Correlation
Measured on weekly returns over the past three years, NCS Multistage Holdings, Inc. (NCSM) and Select Water Solutions, Inc. (WTTR) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCSM and WTTR?
Across a 3-year window, the weekly returns of NCSM and WTTR correlate at 0.30, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.30 over 3 years. Stretching to 5 years gives 0.33, with an annualized covariance of 885.3 %².
Among the 16 assets we track against NCSM, WTTR ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WTTR outperformed by 105.9 percentage points (+34.5% for NCSM against +140.4% for WTTR).
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 WTTR: side by side
| NCSM (NCS Multistage Holdings, Inc.) | WTTR (Select Water Solutions, Inc.) | |
|---|---|---|
| 1-year return | +34.5% | +140.4% |
| 5-year return | +112.6% | +303.0% |
| Volatility (ann.) | 66.0% | 44.1% |
| Beta vs S&P 500 | 0.05 | 0.91 |
| Max drawdown (3Y) | -53.3% | -50.7% |
| Market cap | $0.1B | $2.8B |
| P/E (trailing) | 9.7 | 69.8 |
| Dividend yield | 0.00% | 1.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCSM | WTTR |
|---|---|---|
| 2022 | -13.8% | +49.2% |
| 2023 | -28.6% | -15.6% |
| 2024 | +45.4% | +79.2% |
| 2025 | +52.1% | -18.3% |
| 2026 | +28.6% | +88.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCSM and WTTR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NCSM and WTTR?
The NCSM/WTTR correlation stands at 0.30 on a 3-year window (1 year: 0.16, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is WTTR a good diversifier for NCSM?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 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: NCSM correlations · WTTR correlations
