ANIK vs NSIT: Correlation
Anika Therapeutics Inc. (ANIK) and Insight Enterprises, Inc. (NSIT) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANIK and NSIT?
Across a 3-year window, the weekly returns of ANIK and NSIT correlate at 0.43, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.43). Stretching to 5 years gives 0.39, with an annualized covariance of 768.8 %².
Within ANIK's tracked universe of 11 assets, NSIT comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ANIK ahead by 105.6 points (+127.0% versus +21.4%).
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.
ANIK vs NSIT: side by side
| ANIK (Anika Therapeutics Inc.) | NSIT (Insight Enterprises, Inc.) | |
|---|---|---|
| 1-year return | +127.0% | +21.4% |
| 5-year return | -51.5% | +51.9% |
| Volatility (ann.) | 46.8% | 38.2% |
| Beta vs S&P 500 | 0.89 | 1.35 |
| Max drawdown (3Y) | -71.8% | -71.4% |
| Market cap | $0.3B | $4.6B |
| P/E (trailing) | – | 22.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANIK | NSIT |
|---|---|---|
| 2022 | -17.4% | -5.9% |
| 2023 | -23.4% | +76.7% |
| 2024 | -27.4% | -14.2% |
| 2025 | -41.6% | -46.4% |
| 2026 | +116.9% | +91.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANIK and NSIT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ANIK and NSIT?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.26 over the last year and 0.39 over 5 years.
Is NSIT a good diversifier for ANIK?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/anik-vs-nsit.json
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Related comparisons
Hubs: ANIK correlations · NSIT correlations
