BVS vs NKSH: Correlation
Bioventus Inc. (BVS) and National Bankshares, Inc. (NKSH) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BVS and NKSH?
Across a 3-year window, the weekly returns of BVS and NKSH correlate at 0.45, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.33 versus 0.45 over 3 years. Stretching to 5 years gives 0.21, with an annualized covariance of 809.6 %².
By 3-year correlation, NKSH places #4 of the 11 assets tracked against BVS. The last year tells two different stories: BVS led by 47.5 percentage points, +84.1% for BVS against +36.6% for NKSH. One caveat on sizing: BVS 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.
BVS vs NKSH: side by side
| BVS (Bioventus Inc.) | NKSH (National Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +84.1% | +36.6% |
| 5-year return | -6.2% | +44.9% |
| Volatility (ann.) | 52.7% | 33.9% |
| Beta vs S&P 500 | 0.89 | 0.73 |
| Max drawdown (3Y) | -55.2% | -31.0% |
| Market cap | $0.9B | $0.3B |
| P/E (trailing) | 17.9 | 12.8 |
| Dividend yield | 0.00% | 3.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BVS | NKSH |
|---|---|---|
| 2022 | -82.0% | +17.2% |
| 2023 | +101.9% | -13.1% |
| 2024 | +99.2% | -6.8% |
| 2025 | -29.1% | +23.3% |
| 2026 | +85.3% | +24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BVS and NKSH good diversifiers for each other?
Reasonably. At 0.45, BVS and NKSH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BVS and NKSH?
As of 2026-08-27, the correlation of weekly returns between BVS and NKSH is 0.45 over 3 years, 0.33 over 1 year and 0.21 over 5 years.
Is NKSH a good diversifier for BVS?
Reasonably. At 0.45, BVS and NKSH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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/bvs-vs-nksh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bvs-vs-nksh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BVS correlations · NKSH correlations
