NTIC vs NUTX: Correlation
Measured on weekly returns over the past three years, Northern Technologies International Corporation (NTIC) and Nutex Health Inc. (NUTX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTIC and NUTX?
Across a 3-year window, the weekly returns of NTIC and NUTX correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.05) than the 3-year average (-0.21). Stretching to 5 years gives -0.08, with an annualized covariance of -896.6 %².
Out of 14 assets tracked against NTIC, NUTX lands near the bottom at #11. The last year tells two different stories: NUTX led by 107.4 percentage points, +8.6% for NTIC against +116.0% for NUTX. Risk is not evenly split, since NUTX carries 3.4 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.
NTIC vs NUTX: side by side
| NTIC (Northern Technologies International Corporation) | NUTX (Nutex Health Inc.) | |
|---|---|---|
| 1-year return | +8.6% | +116.0% |
| 5-year return | -46.9% | -96.8% |
| Volatility (ann.) | 35.6% | 120.6% |
| Beta vs S&P 500 | 0.01 | 2.13 |
| Max drawdown (3Y) | -63.3% | -90.7% |
| Market cap | $0.1B | $1.3B |
| P/E (trailing) | – | 7.6 |
| Dividend yield | 0.37% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTIC | NUTX |
|---|---|---|
| 2022 | -10.9% | – |
| 2023 | -9.4% | -90.5% |
| 2024 | +16.7% | +17.4% |
| 2025 | -41.4% | +419.5% |
| 2026 | +3.2% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTIC and NUTX good diversifiers for each other?
Yes. With a correlation of -0.21, NTIC and NUTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NTIC and NUTX?
As of 2026-08-27, the correlation of weekly returns between NTIC and NUTX is -0.21 over 3 years, -0.05 over 1 year and -0.08 over 5 years.
Is NUTX a good diversifier for NTIC?
Yes. With a correlation of -0.21, NTIC and NUTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/ntic-vs-nutx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ntic-vs-nutx/)
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Related comparisons
Hubs: NTIC correlations · NUTX correlations
