AVTX vs NUVB: Correlation
Avalo Therapeutics, Inc. (AVTX) and Nuvation Bio Inc. (NUVB) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVTX and NUVB?
Over the past 3 years, AVTX and NUVB moved with a correlation of 0.40, which is moderate. The relationship has been stable: the 1-year correlation (0.43) sits close to the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 7838.0 %².
Within AVTX's tracked universe of 17 assets, NUVB comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NUVB ahead by 29.1 points (+107.8% versus +136.9%). Risk is not evenly split, since AVTX carries 2.6 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.
AVTX vs NUVB: side by side
| AVTX (Avalo Therapeutics, Inc.) | NUVB (Nuvation Bio Inc.) | |
|---|---|---|
| 1-year return | +107.8% | +136.9% |
| 5-year return | -99.8% | -25.8% |
| Volatility (ann.) | 225.5% | 87.3% |
| Beta vs S&P 500 | 1.22 | 1.90 |
| Max drawdown (3Y) | -93.3% | -58.2% |
| Market cap | $1.1B | $2.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVTX | NUVB |
|---|---|---|
| 2022 | -75.3% | -77.4% |
| 2023 | -99.2% | -21.4% |
| 2024 | -18.4% | +76.2% |
| 2025 | +144.4% | +236.8% |
| 2026 | +10.4% | -22.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVTX and NUVB good diversifiers for each other?
Reasonably. At 0.40, AVTX and NUVB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AVTX and NUVB?
The AVTX/NUVB correlation stands at 0.40 on a 3-year window (1 year: 0.43, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is NUVB a good diversifier for AVTX?
Reasonably. At 0.40, AVTX and NUVB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/avtx-vs-nuvb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avtx-vs-nuvb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVTX correlations · NUVB correlations
