FLUX vs NVX: Correlation
How closely do Flux Power Holdings, Inc. (FLUX) and NOVONIX Limited - American Depository Shares (NVX) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLUX and NVX?
Over the past 3 years, FLUX and NVX moved with a correlation of 0.36, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.48 versus 0.36 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 3588.2 %².
By 3-year correlation, NVX places #5 of the 10 assets tracked against FLUX. Over the last 12 months FLUX came out ahead by 13.9 percentage points (-61.5% against -75.4%).
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.
FLUX vs NVX: side by side
| FLUX (Flux Power Holdings, Inc.) | NVX (NOVONIX Limited - American Depository Shares) | |
|---|---|---|
| 1-year return | -61.5% | -75.4% |
| 5-year return | -92.4% | -98.4% |
| Volatility (ann.) | 103.0% | 96.1% |
| Beta vs S&P 500 | 1.61 | 1.02 |
| Max drawdown (3Y) | -92.3% | -88.4% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLUX | NVX |
|---|---|---|
| 2022 | -7.5% | – |
| 2023 | +3.5% | -52.7% |
| 2024 | -61.6% | -7.2% |
| 2025 | -19.6% | -43.9% |
| 2026 | -49.7% | -64.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLUX and NVX good diversifiers for each other?
Reasonably. At 0.36, FLUX and NVX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FLUX and NVX?
The FLUX/NVX correlation stands at 0.36 on a 3-year window (1 year: 0.48, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is NVX a good diversifier for FLUX?
Reasonably. At 0.36, FLUX and NVX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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/flux-vs-nvx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flux-vs-nvx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLUX correlations · NVX correlations
