NPWR vs PLAG: Correlation
Measured on weekly returns over the past three years, NET Power Inc. (NPWR) and Planet Green Holdings Corp. (PLAG) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPWR and PLAG?
Across a 3-year window, the weekly returns of NPWR and PLAG correlate at 0.35, moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. Stretching to 5 years gives 0.30, with an annualized covariance of 4591.5 %².
Within NPWR's tracked universe of 11 assets, PLAG comes in at #4 by 3-year correlation. The last year tells two different stories: NPWR led by 31.0 percentage points, -28.1% for NPWR against -59.1% for PLAG. One caveat on sizing: PLAG is 2.0 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.
NPWR vs PLAG: side by side
| NPWR (NET Power Inc.) | PLAG (Planet Green Holdings Corp.) | |
|---|---|---|
| 1-year return | -28.1% | -59.1% |
| 5-year return | -80.6% | -94.2% |
| Volatility (ann.) | 80.8% | 160.4% |
| Beta vs S&P 500 | 1.46 | -0.67 |
| Max drawdown (3Y) | -91.8% | -93.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPWR | PLAG |
|---|---|---|
| 2022 | +1.7% | -39.2% |
| 2023 | -0.7% | -21.0% |
| 2024 | +4.9% | -46.9% |
| 2025 | -78.5% | -15.8% |
| 2026 | -17.1% | -67.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPWR and PLAG good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NPWR and PLAG?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.35 over the last year and 0.30 over 5 years.
Is PLAG a good diversifier for NPWR?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/npwr-vs-plag.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/npwr-vs-plag/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NPWR correlations · PLAG correlations
