GOVX vs LWAY: Correlation
How closely do GeoVax Labs, Inc. (GOVX) and Lifeway Foods, Inc. (LWAY) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOVX and LWAY?
Over the past 3 years, GOVX and LWAY moved with a correlation of 0.39, which is moderate. The link has loosened recently: the 1-year correlation (0.10) runs below the 3-year figure (0.39). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 6658.6 %².
Within GOVX's tracked universe of 16 assets, LWAY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LWAY ahead by 82.1 points (-96.2% versus -14.1%). One caveat on sizing: GOVX is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GOVX vs LWAY: side by side
| GOVX (GeoVax Labs, Inc.) | LWAY (Lifeway Foods, Inc.) | |
|---|---|---|
| 1-year return | -96.2% | -14.1% |
| 5-year return | -100.0% | +385.7% |
| Volatility (ann.) | 230.2% | 73.8% |
| Beta vs S&P 500 | 2.89 | 0.75 |
| Max drawdown (3Y) | -99.7% | -60.5% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 38.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GOVX | LWAY |
|---|---|---|
| 2022 | -82.6% | +20.7% |
| 2023 | -42.7% | +141.6% |
| 2024 | -54.4% | +84.9% |
| 2025 | -93.1% | -2.3% |
| 2026 | -83.2% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOVX and LWAY good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GOVX and LWAY?
The GOVX/LWAY correlation stands at 0.39 on a 3-year window (1 year: 0.10, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is LWAY a good diversifier for GOVX?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 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/govx-vs-lway.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/govx-vs-lway/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GOVX correlations · LWAY correlations
