GNW vs NMIH: Correlation
How closely do Genworth Financial Inc (GNW) and NMI Holdings Inc (NMIH) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNW and NMIH?
Across a 3-year window, the weekly returns of GNW and NMIH correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 431.0 %².
Few assets follow GNW as closely as NMIH, which ranks #3 of 14 tracked partners. Neither side won the trailing year by much: +14.5% against +12.9%.
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.
GNW vs NMIH: side by side
| GNW (Genworth Financial Inc) | NMIH (NMI Holdings Inc) | |
|---|---|---|
| 1-year return | +14.5% | +12.9% |
| 5-year return | +172.1% | +99.5% |
| Volatility (ann.) | 28.1% | 24.1% |
| Beta vs S&P 500 | 0.59 | 0.55 |
| Max drawdown (3Y) | -21.7% | -21.4% |
| Market cap | $3.8B | $3.4B |
| P/E (trailing) | 19.5 | 8.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNW | NMIH |
|---|---|---|
| 2022 | +30.6% | -4.3% |
| 2023 | +26.3% | +42.0% |
| 2024 | +4.6% | +23.9% |
| 2025 | +29.2% | +11.0% |
| 2026 | +10.0% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNW and NMIH good diversifiers for each other?
Only partially. A correlation of 0.64 means GNW and NMIH 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 GNW and NMIH?
The GNW/NMIH correlation stands at 0.64 on a 3-year window (1 year: 0.66, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is NMIH a good diversifier for GNW?
Only partially. A correlation of 0.64 means GNW and NMIH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
A reading of 0.64 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/gnw-vs-nmih.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gnw-vs-nmih/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GNW correlations · NMIH correlations
