ASAN vs NVCR: Correlation
How closely do Asana, Inc. (ASAN) and NovoCure Limited (NVCR) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASAN and NVCR?
Over the past 3 years, ASAN and NVCR moved with a correlation of 0.39, which is moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.39). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 1634.7 %².
Among the 19 assets we track against ASAN, NVCR ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NVCR outperformed by 80.0 percentage points (-29.0% for ASAN against +51.0% for NVCR).
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.
ASAN vs NVCR: side by side
| ASAN (Asana, Inc.) | NVCR (NovoCure Limited) | |
|---|---|---|
| 1-year return | -29.0% | +51.0% |
| 5-year return | -86.9% | -86.6% |
| Volatility (ann.) | 59.9% | 70.1% |
| Beta vs S&P 500 | 1.49 | 1.51 |
| Max drawdown (3Y) | -80.2% | -70.0% |
| Market cap | $2.3B | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASAN | NVCR |
|---|---|---|
| 2022 | -81.5% | -2.3% |
| 2023 | +38.1% | -79.6% |
| 2024 | +6.6% | +99.6% |
| 2025 | -32.4% | -56.6% |
| 2026 | -25.8% | +39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASAN and NVCR good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASAN and NVCR?
As of 2026-08-27, the correlation of weekly returns between ASAN and NVCR is 0.39 over 3 years, 0.15 over 1 year and 0.35 over 5 years.
Is NVCR a good diversifier for ASAN?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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: ASAN correlations · NVCR correlations
