CMCO vs NIVF: Correlation
Measured on weekly returns over the past three years, Columbus McKinnon Corporation (CMCO) and NewGenIvf Group Limited - Class A (NIVF) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMCO and NIVF?
Over the past 3 years, CMCO and NIVF moved with a correlation of -0.43, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.09 versus -0.43 over 3 years. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -17262.3 %².
NIVF is close to the least connected end of CMCO's tracked universe, ranking #14 of 15. Correlation aside, the last 12 months split them widely, with CMCO ahead by 123.2 points (+23.3% versus -99.9%). Note the risk asymmetry: NIVF runs 16.0 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.
CMCO vs NIVF: side by side
| CMCO (Columbus McKinnon Corporation) | NIVF (NewGenIvf Group Limited - Class A) | |
|---|---|---|
| 1-year return | +23.3% | -99.9% |
| 5-year return | -58.0% | -100.0% |
| Volatility (ann.) | 50.1% | 800.3% |
| Beta vs S&P 500 | 1.42 | 5.34 |
| Max drawdown (3Y) | -72.8% | -100.0% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 1.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMCO | NIVF |
|---|---|---|
| 2022 | -29.3% | – |
| 2023 | +21.1% | +6.9% |
| 2024 | -3.9% | -96.3% |
| 2025 | -52.9% | -99.3% |
| 2026 | +7.8% | -98.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMCO and NIVF good diversifiers for each other?
Yes. With a correlation of -0.43, CMCO and NIVF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CMCO and NIVF?
As of 2026-08-27, the correlation of weekly returns between CMCO and NIVF is -0.43 over 3 years, 0.09 over 1 year and -0.38 over 5 years.
Is NIVF a good diversifier for CMCO?
Yes. With a correlation of -0.43, CMCO and NIVF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 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: CMCO correlations · NIVF correlations
