FSV vs NVR: Correlation
FirstService Corporation (FSV) and NVR, Inc. (NVR) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSV and NVR?
Over the past 3 years, FSV and NVR moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 274.7 %².
Within FSV's tracked universe of 14 assets, NVR comes in at #5 by 3-year correlation. Over the last 12 months NVR came out ahead by 8.5 percentage points (-29.3% against -20.8%).
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.
FSV vs NVR: side by side
| FSV (FirstService Corporation) | NVR (NVR, Inc.) | |
|---|---|---|
| 1-year return | -29.3% | -20.8% |
| 5-year return | -21.9% | +24.2% |
| Volatility (ann.) | 22.3% | 23.4% |
| Beta vs S&P 500 | 0.62 | 0.53 |
| Max drawdown (3Y) | -39.4% | -43.9% |
| Market cap | $6.2B | $17.0B |
| P/E (trailing) | 40.7 | 16.6 |
| Dividend yield | 0.81% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FSV | NVR |
|---|---|---|
| 2022 | -37.2% | -21.9% |
| 2023 | +33.1% | +51.8% |
| 2024 | +12.3% | +16.8% |
| 2025 | -13.5% | -10.8% |
| 2026 | -8.9% | -12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSV and NVR good diversifiers for each other?
Only partially. A correlation of 0.53 means FSV and NVR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FSV and NVR?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.57 over the last year and 0.56 over 5 years.
Is NVR a good diversifier for FSV?
Only partially. A correlation of 0.53 means FSV and NVR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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/fsv-vs-nvr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fsv-vs-nvr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FSV correlations · NVR correlations
