CALM vs NIVF: Correlation
How closely do Cal-Maine Foods, Inc. (CALM) and NewGenIvf Group Limited - Class A (NIVF) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CALM and NIVF?
Over the past 3 years, CALM and NIVF moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.06) runs above the 3-year figure (-0.24). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -5911.6 %².
NIVF is close to the least connected end of CALM's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months CALM outperformed by 70.2 percentage points (-29.7% for CALM against -99.9% for NIVF). Note the risk asymmetry: NIVF runs 26.2 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.
CALM vs NIVF: side by side
| CALM (Cal-Maine Foods, Inc.) | NIVF (NewGenIvf Group Limited - Class A) | |
|---|---|---|
| 1-year return | -29.7% | -99.9% |
| 5-year return | +187.0% | -100.0% |
| Volatility (ann.) | 30.5% | 800.3% |
| Beta vs S&P 500 | 0.35 | 5.34 |
| Max drawdown (3Y) | -37.0% | -100.0% |
| Market cap | $3.7B | – |
| P/E (trailing) | 12.5 | 0.0 |
| Dividend yield | 2.96% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CALM | NIVF |
|---|---|---|
| 2022 | +51.9% | – |
| 2023 | +14.5% | +6.9% |
| 2024 | +87.0% | -96.3% |
| 2025 | -15.6% | -99.3% |
| 2026 | +1.6% | -98.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CALM and NIVF good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CALM and NIVF?
As of 2026-08-27, the correlation of weekly returns between CALM and NIVF is -0.24 over 3 years, -0.06 over 1 year and -0.18 over 5 years.
Is NIVF a good diversifier for CALM?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CALM correlations · NIVF correlations
