CVRX vs NEM: Correlation
CVRx, Inc. (CVRX) and Newmont (NEM) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVRX and NEM?
Across a 3-year window, the weekly returns of CVRX and NEM correlate at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.21 over 3. Stretching to 5 years gives -0.14, with an annualized covariance of -927.6 %².
Within CVRX's tracked universe of 18 assets, NEM comes in at #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NEM ahead by 144.5 points (-59.8% versus +84.7%). Risk is not evenly split, since CVRX carries 2.4 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 NEM: side by side
| CVRX (CVRx, Inc.) | NEM (Newmont) | |
|---|---|---|
| 1-year return | -59.8% | +84.7% |
| 5-year return | -84.4% | +165.9% |
| Volatility (ann.) | 101.8% | 43.0% |
| Beta vs S&P 500 | 0.65 | 0.87 |
| Max drawdown (3Y) | -92.8% | -36.6% |
| Market cap | $0.1B | $139.4B |
| P/E (trailing) | – | 16.6 |
| Dividend yield | 0.00% | 0.78% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | CVRX | NEM |
|---|---|---|
| 2022 | +50.0% | -20.8% |
| 2023 | +71.3% | -8.8% |
| 2024 | -59.7% | -7.8% |
| 2025 | -44.0% | +172.8% |
| 2026 | -57.2% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVRX and NEM good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CVRX and NEM?
As of 2026-08-27, the correlation of weekly returns between CVRX and NEM is -0.21 over 3 years, -0.24 over 1 year and -0.14 over 5 years.
Is NEM a good diversifier for CVRX?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-nem.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cvrx-vs-nem/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CVRX correlations · NEM correlations
