NGVC vs TDUP: Correlation
Measured on weekly returns over the past three years, Natural Grocers by Vitamin Cottage, Inc. (NGVC) and ThredUp Inc. (TDUP) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGVC and TDUP?
On 3 years of weekly data the NGVC/TDUP correlation comes out at 0.47, moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.47). The 5-year figure is 0.31, and annualized covariance runs at 2858.3 %².
In NGVC's tracked universe of 10 assets, TDUP sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months NGVC outperformed by 46.9 percentage points (-29.8% for NGVC against -76.7% for TDUP). Risk is not evenly split, since TDUP carries 2.3 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.
NGVC vs TDUP: side by side
| NGVC (Natural Grocers by Vitamin Cottage, Inc.) | TDUP (ThredUp Inc.) | |
|---|---|---|
| 1-year return | -29.8% | -76.7% |
| 5-year return | +184.3% | -86.2% |
| Volatility (ann.) | 51.4% | 117.6% |
| Beta vs S&P 500 | 0.61 | 2.72 |
| Max drawdown (3Y) | -59.9% | -87.2% |
| Market cap | $0.6B | $0.4B |
| P/E (trailing) | 13.6 | – |
| Dividend yield | 2.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NGVC | TDUP |
|---|---|---|
| 2022 | -34.0% | -89.7% |
| 2023 | +91.8% | +71.8% |
| 2024 | +152.5% | -38.2% |
| 2025 | -36.1% | +359.7% |
| 2026 | +10.5% | -58.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGVC and TDUP good diversifiers for each other?
Reasonably. At 0.47, NGVC and TDUP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NGVC and TDUP?
The NGVC/TDUP correlation stands at 0.47 on a 3-year window (1 year: 0.24, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is TDUP a good diversifier for NGVC?
Reasonably. At 0.47, NGVC and TDUP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/ngvc-vs-tdup.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ngvc-vs-tdup/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NGVC correlations · TDUP correlations
