ECHO vs NVNO: Correlation
Measured on weekly returns over the past three years, EchoStar (ECHO) and enVVeno Medical Corporation (NVNO) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECHO and NVNO?
Over the past 3 years, ECHO and NVNO moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.11 lands near the 3-year figure. Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -1183.7 %².
By 3-year correlation, NVNO places #28 of the 35 assets tracked against ECHO. Correlation aside, the last 12 months split them widely, with ECHO ahead by 111.7 points (+47.2% versus -64.5%).
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.
ECHO vs NVNO: side by side
| ECHO (EchoStar) | NVNO (enVVeno Medical Corporation) | |
|---|---|---|
| 1-year return | +47.2% | -64.5% |
| 5-year return | +227.3% | -95.8% |
| Volatility (ann.) | 91.1% | 85.0% |
| Beta vs S&P 500 | 1.17 | 1.44 |
| Max drawdown (3Y) | -50.1% | -96.3% |
| Market cap | $25.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | ECHO | NVNO |
|---|---|---|
| 2022 | -36.7% | -22.6% |
| 2023 | -0.7% | +0.8% |
| 2024 | +38.2% | -41.2% |
| 2025 | +374.7% | -89.4% |
| 2026 | -20.5% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECHO and NVNO good diversifiers for each other?
Yes. With a correlation of -0.15, ECHO and NVNO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ECHO and NVNO?
The ECHO/NVNO correlation stands at -0.15 on a 3-year window (1 year: -0.11, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is NVNO a good diversifier for ECHO?
Yes. With a correlation of -0.15, ECHO and NVNO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.15 mean?
A reading of -0.15 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/echo-vs-nvno.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/echo-vs-nvno/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ECHO correlations · NVNO correlations
