CODA vs ROIV: Correlation
Measured on weekly returns over the past three years, Coda Octopus Group, Inc. (CODA) and Roivant Sciences Ltd. (ROIV) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CODA and ROIV?
On 3 years of weekly data the CODA/ROIV correlation comes out at 0.31, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.31 over 3. The 5-year figure is 0.16, and annualized covariance runs at 479.2 %².
By 3-year correlation, ROIV places #5 of the 10 assets tracked against CODA. The last year tells two different stories: ROIV led by 177.4 percentage points, +36.0% for CODA against +213.4% for ROIV.
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.
CODA vs ROIV: side by side
| CODA (Coda Octopus Group, Inc.) | ROIV (Roivant Sciences Ltd.) | |
|---|---|---|
| 1-year return | +36.0% | +213.4% |
| 5-year return | +13.9% | +278.1% |
| Volatility (ann.) | 42.9% | 36.0% |
| Beta vs S&P 500 | 0.67 | 0.91 |
| Max drawdown (3Y) | -44.9% | -36.5% |
| Market cap | $0.1B | $27.1B |
| P/E (trailing) | 23.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CODA | ROIV |
|---|---|---|
| 2022 | -14.2% | -20.7% |
| 2023 | -12.2% | +40.6% |
| 2024 | +30.1% | +5.3% |
| 2025 | +18.8% | +83.4% |
| 2026 | +12.2% | +73.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CODA and ROIV good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CODA and ROIV?
The CODA/ROIV correlation stands at 0.31 on a 3-year window (1 year: 0.39, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is ROIV a good diversifier for CODA?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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/coda-vs-roiv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/coda-vs-roiv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CODA correlations · ROIV correlations
