NFGC vs WDFC: Correlation
Measured on weekly returns over the past three years, New Found Gold Corp (NFGC) and WD-40 Company (WDFC) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NFGC and WDFC?
Over the past 3 years, NFGC and WDFC moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.18 over 1 year against -0.22 over 3. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -382.4 %².
Out of 13 assets tracked against NFGC, WDFC lands near the bottom at #11. On 12-month performance NFGC holds a 14.7-point edge, +15.4% against +0.7%. One caveat on sizing: NFGC is 2.3 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.
NFGC vs WDFC: side by side
| NFGC (New Found Gold Corp) | WDFC (WD-40 Company) | |
|---|---|---|
| 1-year return | +15.4% | +0.7% |
| 5-year return | -71.1% | +0.9% |
| Volatility (ann.) | 64.2% | 27.6% |
| Beta vs S&P 500 | 1.22 | 0.18 |
| Max drawdown (3Y) | -78.7% | -34.2% |
| Market cap | $0.7B | $2.9B |
| P/E (trailing) | – | 33.3 |
| Dividend yield | 0.00% | 1.85% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NFGC | WDFC |
|---|---|---|
| 2022 | -43.5% | -33.0% |
| 2023 | -13.4% | +50.9% |
| 2024 | -48.0% | +2.9% |
| 2025 | +63.2% | -17.4% |
| 2026 | -34.3% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NFGC and WDFC good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between NFGC and WDFC?
The NFGC/WDFC correlation stands at -0.22 on a 3-year window (1 year: -0.18, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is WDFC a good diversifier for NFGC?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nfgc-vs-wdfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nfgc-vs-wdfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NFGC correlations · WDFC correlations
