ASG vs NOVT: Correlation
Liberty All-Star Growth Fund, Inc. (ASG) and Novanta Inc. (NOVT) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and NOVT?
Across a 3-year window, the weekly returns of ASG and NOVT correlate at 0.67, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.62, with an annualized covariance of 514.7 %².
Within ASG's tracked universe of 52 assets, NOVT comes in at #16 by 3-year correlation. The last year tells two different stories: NOVT led by 19.7 percentage points, +3.3% for ASG against +23.0% for NOVT. Risk is not evenly split, since NOVT carries 2.3 times the volatility of the other side.
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.
ASG vs NOVT: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | NOVT (Novanta Inc.) | |
|---|---|---|
| 1-year return | +3.3% | +23.0% |
| 5-year return | -5.6% | -4.1% |
| Volatility (ann.) | 18.3% | 42.1% |
| Beta vs S&P 500 | 1.12 | 1.79 |
| Max drawdown (3Y) | -25.3% | -46.7% |
| Market cap | $0.3B | $5.5B |
| P/E (trailing) | 23.9 | 91.6 |
| Dividend yield | 8.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASG | NOVT |
|---|---|---|
| 2022 | -40.9% | -22.9% |
| 2023 | +16.2% | +23.9% |
| 2024 | +16.8% | -9.3% |
| 2025 | +2.2% | -22.1% |
| 2026 | +6.0% | +21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and NOVT good diversifiers for each other?
Only partially. A correlation of 0.67 means ASG and NOVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ASG and NOVT?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.66 over the last year and 0.62 over 5 years.
Is NOVT a good diversifier for ASG?
Only partially. A correlation of 0.67 means ASG and NOVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asg-vs-novt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asg-vs-novt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASG correlations · NOVT correlations
