CVX vs NGEN: Correlation
Measured on weekly returns over the past three years, Chevron Corporation (CVX) and NervGen Pharma Corp. (NGEN) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVX and NGEN?
On 3 years of weekly data the CVX/NGEN correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.21). The 5-year figure is -0.06, and annualized covariance runs at -424.3 %².
Within CVX's tracked universe of 29 assets, NGEN comes in at #22 by 3-year correlation. The last year tells two different stories: CVX led by 33.5 percentage points, +30.4% for CVX against -3.1% for NGEN. Note the risk asymmetry: NGEN runs 3.6 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.
CVX vs NGEN: side by side
| CVX (Chevron Corporation) | NGEN (NervGen Pharma Corp.) | |
|---|---|---|
| 1-year return | +30.4% | -3.1% |
| 5-year return | +148.1% | +44.1% |
| Volatility (ann.) | 23.8% | 84.7% |
| Beta vs S&P 500 | 0.22 | 0.57 |
| Max drawdown (3Y) | -20.8% | -73.4% |
| Market cap | $391.9B | $0.3B |
| P/E (trailing) | 19.3 | – |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | CVX | NGEN |
|---|---|---|
| 2022 | +58.5% | -44.1% |
| 2023 | -13.6% | +71.4% |
| 2024 | +1.3% | +6.9% |
| 2025 | +10.1% | +156.9% |
| 2026 | +34.7% | -58.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVX and NGEN 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 CVX and NGEN?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.38 over the last year and -0.06 over 5 years.
Is NGEN a good diversifier for CVX?
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?
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/cvx-vs-ngen.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvx-vs-ngen/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVX correlations · NGEN correlations
