CVRX vs FNV: Correlation
Measured on weekly returns over the past three years, CVRx, Inc. (CVRX) and Franco-Nevada Corporation (FNV) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVRX and FNV?
Over the past 3 years, CVRX and FNV moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -882.4 %².
FNV is close to the least connected end of CVRX's tracked universe, ranking #15 of 18. Correlation aside, the last 12 months split them widely, with FNV ahead by 106.4 points (-59.8% versus +46.6%). Risk is not evenly split, since CVRX carries 3.2 times the volatility of the other side.
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.
CVRX vs FNV: side by side
| CVRX (CVRx, Inc.) | FNV (Franco-Nevada Corporation) | |
|---|---|---|
| 1-year return | -59.8% | +46.6% |
| 5-year return | -84.4% | +97.2% |
| Volatility (ann.) | 101.8% | 32.2% |
| Beta vs S&P 500 | 0.65 | 0.36 |
| Max drawdown (3Y) | -92.8% | -29.2% |
| Market cap | $0.1B | $52.3B |
| P/E (trailing) | – | 35.0 |
| Dividend yield | 0.00% | 0.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVRX | FNV |
|---|---|---|
| 2022 | +50.0% | -0.4% |
| 2023 | +71.3% | -18.0% |
| 2024 | -59.7% | +7.4% |
| 2025 | -44.0% | +77.1% |
| 2026 | -57.2% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVRX and FNV good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between CVRX and FNV?
The CVRX/FNV correlation stands at -0.27 on a 3-year window (1 year: -0.20, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is FNV a good diversifier for CVRX?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/cvrx-vs-fnv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvrx-vs-fnv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVRX correlations · FNV correlations
