BLBD vs NVAX: Correlation
Blue Bird Corporation (BLBD) and Novavax, Inc. (NVAX) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLBD and NVAX?
On 3 years of weekly data the BLBD/NVAX correlation comes out at 0.42, moderate. The link has loosened recently: the 1-year correlation (-0.09) runs below the 3-year figure (0.42). The 5-year figure is 0.30, and annualized covariance runs at 1809.7 %².
Within BLBD's tracked universe of 12 assets, NVAX comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVAX ahead by 16.4 points (+3.0% versus +19.4%). Note the risk asymmetry: NVAX runs 1.7 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.
BLBD vs NVAX: side by side
| BLBD (Blue Bird Corporation) | NVAX (Novavax, Inc.) | |
|---|---|---|
| 1-year return | +3.0% | +19.4% |
| 5-year return | +182.6% | -96.1% |
| Volatility (ann.) | 49.8% | 86.3% |
| Beta vs S&P 500 | 0.95 | 1.77 |
| Max drawdown (3Y) | -45.9% | -74.1% |
| Market cap | $1.9B | $1.5B |
| P/E (trailing) | 7.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLBD | NVAX |
|---|---|---|
| 2022 | -31.5% | -92.8% |
| 2023 | +151.7% | -53.3% |
| 2024 | +43.3% | +67.5% |
| 2025 | +21.7% | -16.4% |
| 2026 | +27.5% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLBD and NVAX good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BLBD and NVAX?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with -0.09 over the last year and 0.30 over 5 years.
Is NVAX a good diversifier for BLBD?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/blbd-vs-nvax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/blbd-vs-nvax/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BLBD correlations · NVAX correlations
