ABBV vs NVS: Correlation
How closely do AbbVie (ABBV) and Novartis AG (NVS) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABBV and NVS?
Across a 3-year window, the weekly returns of ABBV and NVS correlate at 0.45, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.45 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 232.4 %².
Among the 34 assets we track against ABBV, NVS ranks #8 by 3-year correlation. Neither side won the trailing year by much: +27.9% against +25.6%.
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.
ABBV vs NVS: side by side
| ABBV (AbbVie) | NVS (Novartis AG) | |
|---|---|---|
| 1-year return | +27.9% | +25.6% |
| 5-year return | +157.2% | +103.5% |
| Volatility (ann.) | 26.4% | 19.6% |
| Beta vs S&P 500 | 0.08 | 0.25 |
| Max drawdown (3Y) | -20.7% | -20.0% |
| Market cap | $456.2B | $293.9B |
| P/E (trailing) | 74.0 | 23.4 |
| Dividend yield | 2.60% | 2.96% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ABBV | NVS |
|---|---|---|
| 2022 | +24.0% | +8.1% |
| 2023 | -0.2% | +16.1% |
| 2024 | +18.9% | +0.0% |
| 2025 | +33.1% | +47.0% |
| 2026 | +15.7% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABBV and NVS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ABBV and NVS?
As of 2026-08-27, the correlation of weekly returns between ABBV and NVS is 0.45 over 3 years, 0.58 over 1 year and 0.44 over 5 years.
Is NVS a good diversifier for ABBV?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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/abbv-vs-nvs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/abbv-vs-nvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ABBV correlations · NVS correlations
