CTM vs NVNI: Correlation
How closely do Castellum, Inc. (CTM) and Nvni Group Limited (NVNI) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTM and NVNI?
Over the past 3 years, CTM and NVNI moved with a correlation of 0.45, which is moderate. The link has loosened recently: the 1-year correlation (0.08) runs below the 3-year figure (0.45). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 63617.1 %².
By 3-year correlation, NVNI places #5 of the 10 assets tracked against CTM. The last year tells two different stories: CTM led by 42.6 percentage points, -40.4% for CTM against -83.0% for NVNI. Note the risk asymmetry: NVNI runs 6.3 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.
CTM vs NVNI: side by side
| CTM (Castellum, Inc.) | NVNI (Nvni Group Limited) | |
|---|---|---|
| 1-year return | -40.4% | -83.0% |
| 5-year return | n/a | -98.9% |
| Volatility (ann.) | 150.3% | 949.3% |
| Beta vs S&P 500 | 1.19 | -4.03 |
| Max drawdown (3Y) | -79.1% | -99.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTM | NVNI |
|---|---|---|
| 2022 | – | +4.4% |
| 2023 | -76.3% | -85.4% |
| 2024 | +571.1% | +64.4% |
| 2025 | -54.9% | -89.2% |
| 2026 | -32.7% | -60.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTM and NVNI good diversifiers for each other?
Reasonably. At 0.45, CTM and NVNI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CTM and NVNI?
The CTM/NVNI correlation stands at 0.45 on a 3-year window (1 year: 0.08, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is NVNI a good diversifier for CTM?
Reasonably. At 0.45, CTM and NVNI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/ctm-vs-nvni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctm-vs-nvni/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTM correlations · NVNI correlations
