NWTG vs SIGI: Correlation
Measured on weekly returns over the past three years, Newton Golf Company, Inc. (NWTG) and Selective Insurance Group, Inc. (SIGI) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWTG and SIGI?
On 3 years of weekly data the NWTG/SIGI correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -922.5 %².
SIGI is close to the least connected end of NWTG's tracked universe, ranking #10 of 11. The last year tells two different stories: SIGI led by 51.7 percentage points, -32.6% for NWTG against +19.1% for SIGI. Risk is not evenly split, since NWTG carries 5.6 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.
NWTG vs SIGI: side by side
| NWTG (Newton Golf Company, Inc.) | SIGI (Selective Insurance Group, Inc.) | |
|---|---|---|
| 1-year return | -32.6% | +19.1% |
| 5-year return | n/a | +18.8% |
| Volatility (ann.) | 142.1% | 25.4% |
| Beta vs S&P 500 | 0.76 | 0.32 |
| Max drawdown (3Y) | -99.9% | -30.5% |
| Market cap | – | $5.5B |
| P/E (trailing) | – | 11.5 |
| Dividend yield | 0.00% | 1.81% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWTG | SIGI |
|---|---|---|
| 2022 | – | +9.7% |
| 2023 | – | +13.7% |
| 2024 | -93.9% | -4.6% |
| 2025 | -88.1% | -8.8% |
| 2026 | -17.3% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWTG and SIGI good diversifiers for each other?
Yes. With a correlation of -0.26, NWTG and SIGI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NWTG and SIGI?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.21 over the last year and n/a over 5 years.
Is SIGI a good diversifier for NWTG?
Yes. With a correlation of -0.26, NWTG and SIGI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 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/nwtg-vs-sigi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nwtg-vs-sigi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NWTG correlations · SIGI correlations
