An NTC compound, a thermistor and a method for producing a thermistor are disclosed. In an embodiment an NTC compound includes a ceramic material of a Mn—Ni—O system as a main constituent, wherein the Mn—Ni—O system has a general composition NixMn2O4-δ, wherein y corresponds to a molar fraction of Ni of a total metal content of the ceramic material of the Mn—Ni—O system, which is defined as c(Ni):(c(Ni)+c(Mn)), and wherein the following applies: 0.500