NODK vs PLGO: Correlation
NI Holdings, Inc. (NODK) and Pelagos Insurance Capital Limited (PLGO) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NODK and PLGO?
Across a 3-year window, the weekly returns of NODK and PLGO correlate at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 266.2 %².
By 3-year correlation, PLGO places #4 of the 10 assets tracked against NODK. The last year tells two different stories: PLGO led by 29.4 percentage points, +14.7% for NODK against +44.1% for PLGO.
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.
NODK vs PLGO: side by side
| NODK (NI Holdings, Inc.) | PLGO (Pelagos Insurance Capital Limited) | |
|---|---|---|
| 1-year return | +14.7% | +44.1% |
| 5-year return | -21.2% | n/a |
| Volatility (ann.) | 22.7% | 29.5% |
| Beta vs S&P 500 | 0.27 | 0.43 |
| Max drawdown (3Y) | -28.4% | -29.9% |
| Market cap | $0.3B | $2.1B |
| P/E (trailing) | 40.1 | 6.1 |
| Dividend yield | 0.00% | 2.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NODK | PLGO |
|---|---|---|
| 2022 | -29.8% | – |
| 2023 | -2.1% | – |
| 2024 | +20.9% | +46.3% |
| 2025 | -15.3% | +9.4% |
| 2026 | +14.7% | +26.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NODK and PLGO good diversifiers for each other?
Reasonably. At 0.40, NODK and PLGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NODK and PLGO?
The NODK/PLGO correlation stands at 0.40 on a 3-year window (1 year: 0.42, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PLGO a good diversifier for NODK?
Reasonably. At 0.40, NODK and PLGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/nodk-vs-plgo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nodk-vs-plgo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NODK correlations · PLGO correlations
