NVGS vs SURG: Correlation
How closely do Navigator Holdings Ltd. (NVGS) and SurgePays, Inc. (SURG) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVGS and SURG?
On 3 years of weekly data the NVGS/SURG correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.47) than the 3-year average (-0.30). The 5-year figure is -0.10, and annualized covariance runs at -799.9 %².
Among the 15 assets we track against NVGS, SURG sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with NVGS ahead by 130.6 points (+37.5% versus -93.1%). One caveat on sizing: SURG is 3.3 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.
NVGS vs SURG: side by side
| NVGS (Navigator Holdings Ltd.) | SURG (SurgePays, Inc.) | |
|---|---|---|
| 1-year return | +37.5% | -93.1% |
| 5-year return | +159.5% | -96.6% |
| Volatility (ann.) | 28.8% | 93.9% |
| Beta vs S&P 500 | 0.68 | 1.13 |
| Max drawdown (3Y) | -38.9% | -98.1% |
| Market cap | $1.4B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 1.30% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVGS | SURG |
|---|---|---|
| 2022 | +34.8% | +224.8% |
| 2023 | +22.5% | -1.7% |
| 2024 | +6.8% | -72.4% |
| 2025 | +14.4% | -6.2% |
| 2026 | +28.1% | -89.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVGS and SURG good diversifiers for each other?
Yes. With a correlation of -0.30, NVGS and SURG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NVGS and SURG?
As of 2026-08-27, the correlation of weekly returns between NVGS and SURG is -0.30 over 3 years, -0.47 over 1 year and -0.10 over 5 years.
Is SURG a good diversifier for NVGS?
Yes. With a correlation of -0.30, NVGS and SURG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/nvgs-vs-surg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nvgs-vs-surg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NVGS correlations · SURG correlations
