FLXS vs NVNO: Correlation
How closely do Flexsteel Industries, Inc. (FLXS) and enVVeno Medical Corporation (NVNO) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLXS and NVNO?
Over the past 3 years, FLXS and NVNO moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.20 over 3. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -989.4 %².
Out of 13 assets tracked against FLXS, NVNO lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with FLXS ahead by 147.5 points (+83.0% 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.
FLXS vs NVNO: side by side
| FLXS (Flexsteel Industries, Inc.) | NVNO (enVVeno Medical Corporation) | |
|---|---|---|
| 1-year return | +83.0% | -64.5% |
| 5-year return | +162.8% | -95.8% |
| Volatility (ann.) | 58.9% | 85.0% |
| Beta vs S&P 500 | 0.68 | 1.44 |
| Max drawdown (3Y) | -54.1% | -96.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 13.4 | – |
| Dividend yield | 1.04% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLXS | NVNO |
|---|---|---|
| 2022 | -40.7% | -22.6% |
| 2023 | +26.1% | +0.8% |
| 2024 | +192.9% | -41.2% |
| 2025 | -25.9% | -89.4% |
| 2026 | +109.7% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLXS and NVNO good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FLXS and NVNO?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.23 over the last year and -0.13 over 5 years.
Is NVNO a good diversifier for FLXS?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 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/flxs-vs-nvno.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flxs-vs-nvno/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FLXS correlations · NVNO correlations
