NGEN vs SKT: Correlation
How closely do NervGen Pharma Corp. (NGEN) and Tanger Inc. (SKT) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGEN and SKT?
Across a 3-year window, the weekly returns of NGEN and SKT correlate at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. Stretching to 5 years gives -0.10, with an annualized covariance of -360.0 %².
Among the 16 assets we track against NGEN, SKT ranks #9 by 3-year correlation. The last year tells two different stories: SKT led by 18.0 percentage points, -3.1% for NGEN against +14.9% for SKT. Risk is not evenly split, since NGEN carries 3.6 times the volatility of the other side.
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.
NGEN vs SKT: side by side
| NGEN (NervGen Pharma Corp.) | SKT (Tanger Inc.) | |
|---|---|---|
| 1-year return | -3.1% | +14.9% |
| 5-year return | +44.1% | +178.9% |
| Volatility (ann.) | 84.7% | 23.6% |
| Beta vs S&P 500 | 0.57 | 0.60 |
| Max drawdown (3Y) | -73.4% | -21.0% |
| Market cap | $0.3B | $4.5B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.00% | 3.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NGEN | SKT |
|---|---|---|
| 2022 | -44.1% | -2.3% |
| 2023 | +71.4% | +62.1% |
| 2024 | +6.9% | +27.7% |
| 2025 | +156.9% | +1.4% |
| 2026 | -58.3% | +15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGEN and SKT good diversifiers for each other?
Yes. With a correlation of -0.18, NGEN and SKT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NGEN and SKT?
The NGEN/SKT correlation stands at -0.18 on a 3-year window (1 year: -0.17, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is SKT a good diversifier for NGEN?
Yes. With a correlation of -0.18, NGEN and SKT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/ngen-vs-skt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ngen-vs-skt/)
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Related comparisons
Hubs: NGEN correlations · SKT correlations
