NFE vs WBTN: Correlation
Measured on weekly returns over the past three years, New Fortress Energy Inc. (NFE) and WEBTOON Entertainment Inc. (WBTN) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NFE and WBTN?
Over the past 3 years, NFE and WBTN moved with a correlation of 0.38, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.61 versus 0.38 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 3908.5 %².
In NFE's tracked universe of 11 assets, WBTN sits right near the top at #2. The last year tells two different stories: WBTN led by 53.9 percentage points, -88.3% for NFE against -34.4% for WBTN.
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.
NFE vs WBTN: side by side
| NFE (New Fortress Energy Inc.) | WBTN (WEBTOON Entertainment Inc.) | |
|---|---|---|
| 1-year return | -88.3% | -34.4% |
| 5-year return | -98.8% | n/a |
| Volatility (ann.) | 109.0% | 80.5% |
| Beta vs S&P 500 | 1.67 | 1.69 |
| Max drawdown (3Y) | -99.3% | -70.6% |
| Market cap | $0.1B | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NFE | WBTN |
|---|---|---|
| 2022 | +77.4% | – |
| 2023 | -3.1% | – |
| 2024 | -59.2% | – |
| 2025 | -92.5% | -4.1% |
| 2026 | -73.2% | -23.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NFE and WBTN good diversifiers for each other?
Reasonably. At 0.38, NFE and WBTN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NFE and WBTN?
The NFE/WBTN correlation stands at 0.38 on a 3-year window (1 year: 0.61, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WBTN a good diversifier for NFE?
Reasonably. At 0.38, NFE and WBTN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 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
$ curl https://www.pairbook.io/api/v1/pairs/nfe-vs-wbtn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nfe-vs-wbtn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NFE correlations · WBTN correlations
