BTX vs NVNO: Correlation
BlackRock Technology and Private Equity Term Trust (BTX) and enVVeno Medical Corporation (NVNO) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTX and NVNO?
On 3 years of weekly data the BTX/NVNO correlation comes out at 0.30, moderate. The link has tightened recently: the 1-year correlation (0.46) runs above the 3-year figure (0.30). The 5-year figure is 0.27, and annualized covariance runs at 622.3 %².
Out of 20 assets tracked against BTX, NVNO lands near the bottom at #17. The last year tells two different stories: BTX led by 104.0 percentage points, +39.5% for BTX against -64.5% for NVNO. One caveat on sizing: NVNO is 3.5 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.
BTX vs NVNO: side by side
| BTX (BlackRock Technology and Private Equity Term Trust) | NVNO (enVVeno Medical Corporation) | |
|---|---|---|
| 1-year return | +39.5% | -64.5% |
| 5-year return | -21.7% | -95.8% |
| Volatility (ann.) | 24.4% | 85.0% |
| Beta vs S&P 500 | 1.23 | 1.44 |
| Max drawdown (3Y) | -31.7% | -96.3% |
| Market cap | $1.1B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTX | NVNO |
|---|---|---|
| 2022 | -47.8% | -22.6% |
| 2023 | +19.3% | +0.8% |
| 2024 | +13.4% | -41.2% |
| 2025 | +0.9% | -89.4% |
| 2026 | +45.3% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTX and NVNO good diversifiers for each other?
Reasonably. At 0.30, BTX and NVNO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BTX and NVNO?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.46 over the last year and 0.27 over 5 years.
Is NVNO a good diversifier for BTX?
Reasonably. At 0.30, BTX and NVNO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 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/btx-vs-nvno.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btx-vs-nvno/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTX correlations · NVNO correlations
