NEWT vs STKS: Correlation
How closely do NewtekOne, Inc. (NEWT) and The ONE Group Hospitality, Inc. (STKS) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEWT and STKS?
On 3 years of weekly data the NEWT/STKS correlation comes out at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 1104.6 %².
By 3-year correlation, STKS places #9 of the 17 assets tracked against NEWT. Their recent paths diverged sharply: over the last 12 months NEWT outperformed by 48.1 percentage points (+5.9% for NEWT against -42.2% for STKS). One caveat on sizing: STKS is 1.6 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.
NEWT vs STKS: side by side
| NEWT (NewtekOne, Inc.) | STKS (The ONE Group Hospitality, Inc.) | |
|---|---|---|
| 1-year return | +5.9% | -42.2% |
| 5-year return | -35.1% | -85.0% |
| Volatility (ann.) | 38.9% | 63.5% |
| Beta vs S&P 500 | 1.15 | 1.30 |
| Max drawdown (3Y) | -43.8% | -76.5% |
| Market cap | $0.4B | $0.1B |
| P/E (trailing) | 5.6 | – |
| Dividend yield | 6.16% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEWT | STKS |
|---|---|---|
| 2022 | -33.2% | -50.0% |
| 2023 | -10.7% | -2.9% |
| 2024 | -1.6% | -52.6% |
| 2025 | -4.9% | -39.7% |
| 2026 | +11.9% | -5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEWT and STKS good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NEWT and STKS?
As of 2026-08-27, the correlation of weekly returns between NEWT and STKS is 0.45 over 3 years, 0.39 over 1 year and 0.40 over 5 years.
Is STKS a good diversifier for NEWT?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 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/newt-vs-stks.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/newt-vs-stks/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NEWT correlations · STKS correlations
