BNED vs NVCR: Correlation
Measured on weekly returns over the past three years, Barnes & Noble Education, Inc (BNED) and NovoCure Limited (NVCR) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNED and NVCR?
On 3 years of weekly data the BNED/NVCR correlation comes out at 0.38, moderate. The link has loosened recently: the 1-year correlation (0.13) runs below the 3-year figure (0.38). The 5-year figure is 0.31, and annualized covariance runs at 2943.0 %².
Among the 11 assets we track against BNED, NVCR ranks #5 by 3-year correlation. On 12-month performance NVCR holds a 9.9-point edge, +41.1% against +51.0%. One caveat on sizing: BNED is 1.6 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.
BNED vs NVCR: side by side
| BNED (Barnes & Noble Education, Inc) | NVCR (NovoCure Limited) | |
|---|---|---|
| 1-year return | +41.1% | +51.0% |
| 5-year return | -98.4% | -86.6% |
| Volatility (ann.) | 111.9% | 70.1% |
| Beta vs S&P 500 | 1.64 | 1.51 |
| Max drawdown (3Y) | -97.3% | -70.0% |
| Market cap | $0.4B | $2.1B |
| P/E (trailing) | 25.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BNED | NVCR |
|---|---|---|
| 2022 | -74.3% | -2.3% |
| 2023 | -14.9% | -79.6% |
| 2024 | -93.3% | +99.6% |
| 2025 | -8.5% | -56.6% |
| 2026 | +33.9% | +39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BNED and NVCR good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BNED and NVCR?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.13 over the last year and 0.31 over 5 years.
Is NVCR a good diversifier for BNED?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BNED correlations · NVCR correlations
