AMAT vs NVMI: Correlation
Measured on weekly returns over the past three years, Applied Materials (AMAT) and Nova Ltd. (NVMI) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAT and NVMI?
On 3 years of weekly data the AMAT/NVMI correlation comes out at 0.72, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.72 over 3. The 5-year figure is 0.77, and annualized covariance runs at 1622.3 %².
Among the 34 assets we track against AMAT, NVMI ranks #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMAT ahead by 154.3 points (+195.0% versus +40.7%).
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.
AMAT vs NVMI: side by side
| AMAT (Applied Materials) | NVMI (Nova Ltd.) | |
|---|---|---|
| 1-year return | +195.0% | +40.7% |
| 5-year return | +269.5% | +266.1% |
| Volatility (ann.) | 43.5% | 51.8% |
| Beta vs S&P 500 | 1.69 | 1.93 |
| Max drawdown (3Y) | -49.9% | -40.8% |
| Market cap | $382.8B | $11.8B |
| P/E (trailing) | 41.3 | 45.7 |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | AMAT | NVMI |
|---|---|---|
| 2022 | -37.5% | -44.2% |
| 2023 | +68.0% | +68.2% |
| 2024 | +1.1% | +43.4% |
| 2025 | +59.6% | +66.7% |
| 2026 | +88.4% | +12.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAT and NVMI good diversifiers for each other?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AMAT and NVMI?
As of 2026-08-27, the correlation of weekly returns between AMAT and NVMI is 0.72 over 3 years, 0.70 over 1 year and 0.77 over 5 years.
Is NVMI a good diversifier for AMAT?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.72 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/amat-vs-nvmi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amat-vs-nvmi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMAT correlations · NVMI correlations
