CVRX vs GDX: Correlation
How closely do CVRx, Inc. (CVRX) and VanEck Gold Miners ETF (GDX) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVRX and GDX?
Over the past 3 years, CVRX and GDX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.21 over 3. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -893.7 %².
Within CVRX's tracked universe of 18 assets, GDX comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GDX ahead by 129.7 points (-59.8% versus +69.9%). One caveat on sizing: CVRX is 2.5 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.
CVRX vs GDX: side by side
| CVRX (CVRx, Inc.) | GDX (VanEck Gold Miners ETF) | |
|---|---|---|
| 1-year return | -59.8% | +69.9% |
| 5-year return | -84.4% | +245.5% |
| Volatility (ann.) | 101.8% | 40.9% |
| Beta vs S&P 500 | 0.65 | 0.88 |
| Max drawdown (3Y) | -92.8% | -38.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | CVRX | GDX |
|---|---|---|
| 2022 | +50.0% | -9.0% |
| 2023 | +71.3% | +10.0% |
| 2024 | -59.7% | +10.6% |
| 2025 | -44.0% | +154.8% |
| 2026 | -57.2% | +20.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVRX and GDX good diversifiers for each other?
Yes. With a correlation of -0.21, CVRX and GDX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CVRX and GDX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.20 over the last year and -0.09 over 5 years.
Is GDX a good diversifier for CVRX?
Yes. With a correlation of -0.21, CVRX and GDX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvrx-vs-gdx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cvrx-vs-gdx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVRX correlations · GDX correlations
