CELC vs NVO: Correlation
Celcuity Inc. (CELC) and Novo Nordisk A/S (NVO) show a negative 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 CELC and NVO?
Over the past 3 years, CELC and NVO moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.15) runs above the 3-year figure (-0.30). Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -1724.6 %².
NVO is close to the least connected end of CELC's tracked universe, ranking #34 of 38. Correlation aside, the last 12 months split them widely, with CELC ahead by 100.5 points (+86.6% versus -13.9%). One caveat on sizing: CELC is 2.7 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.
CELC vs NVO: side by side
| CELC (Celcuity Inc.) | NVO (Novo Nordisk A/S) | |
|---|---|---|
| 1-year return | +86.6% | -13.9% |
| 5-year return | +324.8% | +1.3% |
| Volatility (ann.) | 124.5% | 45.9% |
| Beta vs S&P 500 | 0.76 | 1.06 |
| Max drawdown (3Y) | -62.0% | -74.7% |
| Market cap | $4.6B | $204.5B |
| P/E (trailing) | – | 11.5 |
| Dividend yield | 0.00% | 24.79% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CELC | NVO |
|---|---|---|
| 2022 | +6.2% | +22.7% |
| 2023 | +4.0% | +54.8% |
| 2024 | -10.2% | -15.9% |
| 2025 | +662.0% | -39.2% |
| 2026 | -6.5% | -4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CELC and NVO good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between CELC and NVO?
As of 2026-08-27, the correlation of weekly returns between CELC and NVO is -0.30 over 3 years, 0.15 over 1 year and -0.26 over 5 years.
Is NVO a good diversifier for CELC?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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.
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Related comparisons
Hubs: CELC correlations · NVO correlations
