BIT vs NVNO: Correlation
Measured on weekly returns over the past three years, BlackRock Multi-Sector Income Trust (BIT) and enVVeno Medical Corporation (NVNO) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIT and NVNO?
On 3 years of weekly data the BIT/NVNO correlation comes out at 0.29, weak. The past 12 months show a weaker link (0.17) than the 3-year average (0.29). The 5-year figure is 0.28, and annualized covariance runs at 261.3 %².
Among the 11 assets we track against BIT, NVNO sits near the bottom by co-movement, at rank #8. The last year tells two different stories: BIT led by 62.2 percentage points, -2.3% for BIT against -64.5% for NVNO. Note the risk asymmetry: NVNO runs 8.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BIT vs NVNO: side by side
| BIT (BlackRock Multi-Sector Income Trust) | NVNO (enVVeno Medical Corporation) | |
|---|---|---|
| 1-year return | -2.3% | -64.5% |
| 5-year return | +5.8% | -95.8% |
| Volatility (ann.) | 10.5% | 85.0% |
| Beta vs S&P 500 | 0.42 | 1.44 |
| Max drawdown (3Y) | -11.6% | -96.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIT | NVNO |
|---|---|---|
| 2022 | -14.6% | -22.6% |
| 2023 | +16.5% | +0.8% |
| 2024 | +7.2% | -41.2% |
| 2025 | -0.7% | -89.4% |
| 2026 | -1.1% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIT and NVNO good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BIT and NVNO?
The BIT/NVNO correlation stands at 0.29 on a 3-year window (1 year: 0.17, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is NVNO a good diversifier for BIT?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
A reading of 0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bit-vs-nvno.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bit-vs-nvno/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BIT correlations · NVNO correlations
