EDSA vs NOMD: Correlation
Edesa Biotech, Inc. (EDSA) and Nomad Foods Limited (NOMD) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDSA and NOMD?
Over the past 3 years, EDSA and NOMD moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.48) than the 3-year average (-0.25). Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -1338.9 %².
By 3-year correlation, NOMD places #23 of the 30 assets tracked against EDSA. Their recent paths diverged sharply: over the last 12 months EDSA outperformed by 109.9 percentage points (+91.7% for EDSA against -18.2% for NOMD). Note the risk asymmetry: EDSA runs 6.9 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.
EDSA vs NOMD: side by side
| EDSA (Edesa Biotech, Inc.) | NOMD (Nomad Foods Limited) | |
|---|---|---|
| 1-year return | +91.7% | -18.2% |
| 5-year return | -87.4% | -48.6% |
| Volatility (ann.) | 190.4% | 27.7% |
| Beta vs S&P 500 | -0.03 | 0.16 |
| Max drawdown (3Y) | -87.3% | -52.8% |
| Market cap | – | – |
| P/E (trailing) | – | 12.0 |
| Dividend yield | 0.00% | 4.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDSA | NOMD |
|---|---|---|
| 2022 | -61.6% | -32.1% |
| 2023 | -69.8% | -1.7% |
| 2024 | -63.2% | +2.4% |
| 2025 | -15.5% | -22.1% |
| 2026 | +223.9% | +0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and NOMD good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between EDSA and NOMD?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.48 over the last year and -0.13 over 5 years.
Is NOMD a good diversifier for EDSA?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 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/edsa-vs-nomd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/edsa-vs-nomd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EDSA correlations · NOMD correlations
