NEWP vs SGML: Correlation
New Pacific Metals Corp. (NEWP) and Sigma Lithium Corporation (SGML) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEWP and SGML?
Across a 3-year window, the weekly returns of NEWP and SGML correlate at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 3597.4 %².
Among the 12 assets we track against NEWP, SGML ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NEWP ahead by 230.7 points (+318.6% versus +87.9%).
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.
NEWP vs SGML: side by side
| NEWP (New Pacific Metals Corp.) | SGML (Sigma Lithium Corporation) | |
|---|---|---|
| 1-year return | +318.6% | +87.9% |
| 5-year return | +96.6% | +69.8% |
| Volatility (ann.) | 76.6% | 97.8% |
| Beta vs S&P 500 | 1.96 | 1.89 |
| Max drawdown (3Y) | -64.6% | -88.9% |
| Market cap | $1.4B | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEWP | SGML |
|---|---|---|
| 2022 | -23.5% | +171.1% |
| 2023 | -15.1% | +11.7% |
| 2024 | -38.2% | -64.4% |
| 2025 | +197.5% | +17.6% |
| 2026 | +111.1% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEWP and SGML good diversifiers for each other?
Reasonably. At 0.48, NEWP and SGML keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NEWP and SGML?
As of 2026-08-27, the correlation of weekly returns between NEWP and SGML is 0.48 over 3 years, 0.51 over 1 year and 0.38 over 5 years.
Is SGML a good diversifier for NEWP?
Reasonably. At 0.48, NEWP and SGML keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NEWP correlations · SGML correlations
