BIO vs NIVF: Correlation
How closely do Bio-Rad Laboratories, Inc. (BIO) and NewGenIvf Group Limited - Class A (NIVF) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIO and NIVF?
On 3 years of weekly data the BIO/NIVF correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.27) than the 3-year average (-0.27). The 5-year figure is -0.23, and annualized covariance runs at -8358.4 %².
Out of 13 assets tracked against BIO, NIVF lands near the bottom at #12. The last year tells two different stories: BIO led by 133.1 percentage points, +33.2% for BIO against -99.9% for NIVF. One caveat on sizing: NIVF is 20.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BIO vs NIVF: side by side
| BIO (Bio-Rad Laboratories, Inc.) | NIVF (NewGenIvf Group Limited - Class A) | |
|---|---|---|
| 1-year return | +33.2% | -99.9% |
| 5-year return | -52.1% | -100.0% |
| Volatility (ann.) | 38.4% | 800.3% |
| Beta vs S&P 500 | 0.85 | 5.34 |
| Max drawdown (3Y) | -45.9% | -100.0% |
| Market cap | $10.4B | – |
| P/E (trailing) | 47.4 | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIO | NIVF |
|---|---|---|
| 2022 | -44.3% | – |
| 2023 | -23.2% | +6.9% |
| 2024 | +1.7% | -96.3% |
| 2025 | -7.8% | -99.3% |
| 2026 | +28.7% | -98.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIO and NIVF good diversifiers for each other?
Yes. With a correlation of -0.27, BIO and NIVF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BIO and NIVF?
The BIO/NIVF correlation stands at -0.27 on a 3-year window (1 year: 0.27, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is NIVF a good diversifier for BIO?
Yes. With a correlation of -0.27, BIO and NIVF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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: BIO correlations · NIVF correlations
