CVRX vs NEOG: Correlation
How closely do CVRx, Inc. (CVRX) and Neogen Corporation (NEOG) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVRX and NEOG?
On 3 years of weekly data the CVRX/NEOG correlation comes out at 0.34, moderate. The past 12 months show a weaker link (0.23) than the 3-year average (0.34). The 5-year figure is 0.31, and annualized covariance runs at 1983.2 %².
NEOG is one of the assets that tracks CVRX most closely: it ranks #3 out of the 18 assets we track against CVRX. Their recent paths diverged sharply: over the last 12 months NEOG outperformed by 164.3 percentage points (-59.8% for CVRX against +104.5% for NEOG). Risk is not evenly split, since CVRX carries 1.8 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 NEOG: side by side
| CVRX (CVRx, Inc.) | NEOG (Neogen Corporation) | |
|---|---|---|
| 1-year return | -59.8% | +104.5% |
| 5-year return | -84.4% | -73.2% |
| Volatility (ann.) | 101.8% | 57.8% |
| Beta vs S&P 500 | 0.65 | 1.11 |
| Max drawdown (3Y) | -92.8% | -81.2% |
| Market cap | $0.1B | $2.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVRX | NEOG |
|---|---|---|
| 2022 | +50.0% | -66.5% |
| 2023 | +71.3% | +32.0% |
| 2024 | -59.7% | -39.6% |
| 2025 | -44.0% | -42.4% |
| 2026 | -57.2% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVRX and NEOG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CVRX and NEOG?
As of 2026-08-27, the correlation of weekly returns between CVRX and NEOG is 0.34 over 3 years, 0.23 over 1 year and 0.31 over 5 years.
Is NEOG a good diversifier for CVRX?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvrx-vs-neog.json
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[](https://www.pairbook.io/pair/cvrx-vs-neog/)
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Related comparisons
Hubs: CVRX correlations · NEOG correlations
