NTWK vs SND: Correlation
Measured on weekly returns over the past three years, NETSOL Technologies Inc. (NTWK) and Smart Sand, Inc. (SND) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTWK and SND?
Over the past 3 years, NTWK and SND moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.47) than the 3-year average (-0.22). Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -602.9 %².
Out of 10 assets tracked against NTWK, SND lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with SND ahead by 169.0 points (+0.5% versus +169.5%).
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.
NTWK vs SND: side by side
| NTWK (NETSOL Technologies Inc.) | SND (Smart Sand, Inc.) | |
|---|---|---|
| 1-year return | +0.5% | +169.5% |
| 5-year return | -4.3% | +141.8% |
| Volatility (ann.) | 47.2% | 57.5% |
| Beta vs S&P 500 | 0.85 | 0.34 |
| Max drawdown (3Y) | -46.4% | -33.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | 26.8 | 19.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTWK | SND |
|---|---|---|
| 2022 | -27.0% | +0.6% |
| 2023 | -23.9% | +7.8% |
| 2024 | +19.1% | +22.1% |
| 2025 | +15.6% | +89.8% |
| 2026 | +32.7% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTWK and SND good diversifiers for each other?
Yes. With a correlation of -0.22, NTWK and SND have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NTWK and SND?
The NTWK/SND correlation stands at -0.22 on a 3-year window (1 year: -0.47, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is SND a good diversifier for NTWK?
Yes. With a correlation of -0.22, NTWK and SND have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/ntwk-vs-snd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ntwk-vs-snd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NTWK correlations · SND correlations
