EXOD vs NVAX: Correlation
How closely do Exodus Movement, Inc. (EXOD) and Novavax, Inc. (NVAX) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXOD and NVAX?
Over the past 3 years, EXOD and NVAX moved with a correlation of 0.29, which is weak. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Over 5 years the correlation is 0.13, and the annualized covariance of weekly returns is 4923.9 %².
Within EXOD's tracked universe of 18 assets, NVAX comes in at #4 by 3-year correlation. The last year tells two different stories: NVAX led by 85.3 percentage points, -65.9% for EXOD against +19.4% for NVAX. Note the risk asymmetry: EXOD runs 2.3 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.
EXOD vs NVAX: side by side
| EXOD (Exodus Movement, Inc.) | NVAX (Novavax, Inc.) | |
|---|---|---|
| 1-year return | -65.9% | +19.4% |
| 5-year return | -64.9% | -96.1% |
| Volatility (ann.) | 196.6% | 86.3% |
| Beta vs S&P 500 | 0.78 | 1.77 |
| Max drawdown (3Y) | -94.8% | -74.1% |
| Market cap | $0.3B | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXOD | NVAX |
|---|---|---|
| 2022 | -89.5% | -92.8% |
| 2023 | +12.2% | -53.3% |
| 2024 | +1233.9% | +67.5% |
| 2025 | -51.8% | -16.4% |
| 2026 | -37.2% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXOD and NVAX good diversifiers for each other?
Reasonably. At 0.29, EXOD and NVAX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EXOD and NVAX?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with 0.33 over the last year and 0.13 over 5 years.
Is NVAX a good diversifier for EXOD?
Reasonably. At 0.29, EXOD and NVAX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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/exod-vs-nvax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/exod-vs-nvax/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXOD correlations · NVAX correlations
