NTIC vs TGS: Correlation
How closely do Northern Technologies International Corporation (NTIC) and Transportadora de Gas del Sur SA TGS (TGS) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTIC and TGS?
Over the past 3 years, NTIC and TGS moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -509.5 %².
Out of 14 assets tracked against NTIC, TGS lands near the bottom at #12. Their 12-month results are close: +8.6% for NTIC against +6.6% for TGS. Note the risk asymmetry: TGS runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TGS: side by side
| NTIC (Northern Technologies International Corporation) | TGS (Transportadora de Gas del Sur SA TGS) | |
|---|---|---|
| 1-year return | +8.6% | +6.6% |
| 5-year return | -46.9% | +412.6% |
| Volatility (ann.) | 35.6% | 55.6% |
| Beta vs S&P 500 | 0.01 | 0.33 |
| Max drawdown (3Y) | -63.3% | -39.5% |
| Market cap | $0.1B | $4.3B |
| P/E (trailing) | – | 12.4 |
| Dividend yield | 0.37% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTIC | TGS |
|---|---|---|
| 2022 | -10.9% | +165.8% |
| 2023 | -9.4% | +27.9% |
| 2024 | +16.7% | +94.0% |
| 2025 | -41.4% | +6.2% |
| 2026 | +3.2% | -8.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTIC and TGS good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between NTIC and TGS?
The NTIC/TGS correlation stands at -0.26 on a 3-year window (1 year: -0.30, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is TGS a good diversifier for NTIC?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NTIC correlations · TGS correlations
