NMRK vs OFIX: Correlation
How closely do Newmark Group, Inc. (NMRK) and Orthofix Medical Inc. (OFIX) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NMRK and OFIX?
Across a 3-year window, the weekly returns of NMRK and OFIX correlate at 0.46, moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.46). Stretching to 5 years gives 0.42, with an annualized covariance of 957.7 %².
Within NMRK's tracked universe of 19 assets, OFIX comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NMRK outperformed by 21.3 percentage points (-13.8% for NMRK against -35.1% for OFIX).
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.
NMRK vs OFIX: side by side
| NMRK (Newmark Group, Inc.) | OFIX (Orthofix Medical Inc.) | |
|---|---|---|
| 1-year return | -13.8% | -35.1% |
| 5-year return | +23.3% | -76.9% |
| Volatility (ann.) | 43.4% | 47.8% |
| Beta vs S&P 500 | 1.49 | 1.15 |
| Max drawdown (3Y) | -36.6% | -58.1% |
| Market cap | $3.8B | $0.4B |
| P/E (trailing) | 19.7 | – |
| Dividend yield | 0.95% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NMRK | OFIX |
|---|---|---|
| 2022 | -57.0% | -34.0% |
| 2023 | +39.9% | -34.3% |
| 2024 | +18.1% | +29.5% |
| 2025 | +36.5% | -13.2% |
| 2026 | -9.5% | -36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NMRK and OFIX good diversifiers for each other?
Reasonably. At 0.46, NMRK and OFIX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NMRK and OFIX?
As of 2026-08-27, the correlation of weekly returns between NMRK and OFIX is 0.46 over 3 years, 0.15 over 1 year and 0.42 over 5 years.
Is OFIX a good diversifier for NMRK?
Reasonably. At 0.46, NMRK and OFIX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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.
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Related comparisons
Hubs: NMRK correlations · OFIX correlations
