ANVS vs TOYO: Correlation
Measured on weekly returns over the past three years, Annovis Bio, Inc. (ANVS) and TOYO Co., Ltd (TOYO) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANVS and TOYO?
Over the past 3 years, ANVS and TOYO moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.19). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -2731.9 %².
Out of 10 assets tracked against ANVS, TOYO lands near the bottom at #8. The trailing year gives TOYO the advantage: -23.0% versus -13.6%, a 9.4-point spread.
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.
ANVS vs TOYO: side by side
| ANVS (Annovis Bio, Inc.) | TOYO (TOYO Co., Ltd) | |
|---|---|---|
| 1-year return | -23.0% | -13.6% |
| 5-year return | -95.0% | -54.4% |
| Volatility (ann.) | 130.1% | 107.7% |
| Beta vs S&P 500 | 2.62 | 0.34 |
| Max drawdown (3Y) | -93.8% | -86.3% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | 2.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANVS | TOYO |
|---|---|---|
| 2022 | -23.6% | – |
| 2023 | +39.2% | +8.0% |
| 2024 | -73.1% | -69.3% |
| 2025 | -31.2% | +73.4% |
| 2026 | -47.7% | -23.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANVS and TOYO good diversifiers for each other?
Yes. With a correlation of -0.19, ANVS and TOYO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ANVS and TOYO?
As of 2026-08-27, the correlation of weekly returns between ANVS and TOYO is -0.19 over 3 years, -0.08 over 1 year and -0.18 over 5 years.
Is TOYO a good diversifier for ANVS?
Yes. With a correlation of -0.19, ANVS and TOYO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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/anvs-vs-toyo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/anvs-vs-toyo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ANVS correlations · TOYO correlations
