CNTN vs NVNO: Correlation
How closely do Canton Strategic Holdings, Inc. (CNTN) and enVVeno Medical Corporation (NVNO) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNTN and NVNO?
Over the past 3 years, CNTN and NVNO moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.18) than the 3-year average (-0.34). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -5196.0 %².
NVNO is close to the least connected end of CNTN's tracked universe, ranking #11 of 11. Over the last 12 months CNTN came out ahead by 11.9 percentage points (-52.6% against -64.5%). One caveat on sizing: CNTN is 2.1 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.
CNTN vs NVNO: side by side
| CNTN (Canton Strategic Holdings, Inc.) | NVNO (enVVeno Medical Corporation) | |
|---|---|---|
| 1-year return | -52.6% | -64.5% |
| 5-year return | -99.8% | -95.8% |
| Volatility (ann.) | 182.3% | 85.0% |
| Beta vs S&P 500 | 0.52 | 1.44 |
| Max drawdown (3Y) | -99.0% | -96.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNTN | NVNO |
|---|---|---|
| 2022 | – | -22.6% |
| 2023 | -94.8% | +0.8% |
| 2024 | -73.4% | -41.2% |
| 2025 | +49.3% | -89.4% |
| 2026 | -22.4% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNTN and NVNO good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CNTN and NVNO?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with 0.18 over the last year and -0.18 over 5 years.
Is NVNO a good diversifier for CNTN?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cntn-vs-nvno.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cntn-vs-nvno/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNTN correlations · NVNO correlations
