AIFF vs NIVF: Correlation
How closely do Firefly Neuroscience, Inc. (AIFF) and NewGenIvf Group Limited - Class A (NIVF) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIFF and NIVF?
Across a 3-year window, the weekly returns of AIFF and NIVF correlate at 0.51, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.03 versus 0.51 over 3 years. Stretching to 5 years gives 0.46, with an annualized covariance of 77484.7 %².
In AIFF's tracked universe of 15 assets, NIVF sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months AIFF outperformed by 41.0 percentage points (-58.9% for AIFF against -99.9% for NIVF). Note the risk asymmetry: NIVF runs 4.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AIFF vs NIVF: side by side
| AIFF (Firefly Neuroscience, Inc.) | NIVF (NewGenIvf Group Limited - Class A) | |
|---|---|---|
| 1-year return | -58.9% | -99.9% |
| 5-year return | -98.8% | -100.0% |
| Volatility (ann.) | 190.4% | 800.3% |
| Beta vs S&P 500 | 1.78 | 5.34 |
| Max drawdown (3Y) | -95.9% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIFF | NIVF |
|---|---|---|
| 2022 | -90.3% | – |
| 2023 | -64.8% | +6.9% |
| 2024 | -47.7% | -96.3% |
| 2025 | -66.8% | -99.3% |
| 2026 | +22.7% | -98.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIFF and NIVF good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AIFF and NIVF?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with -0.03 over the last year and 0.46 over 5 years.
Is NIVF a good diversifier for AIFF?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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.
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Related comparisons
Hubs: AIFF correlations · NIVF correlations
