CAMT vs NVMI: Correlation
Camtek Ltd. (CAMT) and Nova Ltd. (NVMI) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAMT and NVMI?
Over the past 3 years, CAMT and NVMI moved with a correlation of 0.70, which is strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 2100.7 %².
NVMI is one of the assets that tracks CAMT most closely: it ranks #1 out of the 10 assets we track against CAMT. Their recent paths diverged sharply: over the last 12 months CAMT outperformed by 25.9 percentage points (+66.6% for CAMT against +40.7% for NVMI).
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.
CAMT vs NVMI: side by side
| CAMT (Camtek Ltd.) | NVMI (Nova Ltd.) | |
|---|---|---|
| 1-year return | +66.6% | +40.7% |
| 5-year return | +253.0% | +266.1% |
| Volatility (ann.) | 57.7% | 51.8% |
| Beta vs S&P 500 | 1.95 | 1.93 |
| Max drawdown (3Y) | -63.2% | -40.8% |
| Market cap | $6.8B | $11.8B |
| P/E (trailing) | 193.1 | 45.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAMT | NVMI |
|---|---|---|
| 2022 | -52.3% | -44.2% |
| 2023 | +215.9% | +68.2% |
| 2024 | +18.3% | +43.4% |
| 2025 | +31.7% | +66.7% |
| 2026 | +36.2% | +12.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAMT and NVMI good diversifiers for each other?
Only partially. A correlation of 0.70 means CAMT and NVMI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CAMT and NVMI?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.75 over the last year and 0.70 over 5 years.
Is NVMI a good diversifier for CAMT?
Only partially. A correlation of 0.70 means CAMT and NVMI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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/camt-vs-nvmi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/camt-vs-nvmi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CAMT correlations · NVMI correlations
