GRX vs NVS: Correlation
The Gabelli Healthcare & Wellness Trust (GRX) and Novartis AG (NVS) 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 GRX and NVS?
On 3 years of weekly data the GRX/NVS correlation comes out at 0.53, moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.53). The 5-year figure is 0.54, and annualized covariance runs at 158.7 %².
Among the 26 assets we track against GRX, NVS ranks #6 by 3-year correlation. Over the last 12 months NVS came out ahead by 11.3 percentage points (+14.3% against +25.6%).
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.
GRX vs NVS: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | NVS (Novartis AG) | |
|---|---|---|
| 1-year return | +14.3% | +25.6% |
| 5-year return | +1.5% | +103.5% |
| Volatility (ann.) | 15.1% | 19.6% |
| Beta vs S&P 500 | 0.46 | 0.25 |
| Max drawdown (3Y) | -17.9% | -20.0% |
| Market cap | – | $293.9B |
| P/E (trailing) | 67.0 | 23.4 |
| Dividend yield | 0.00% | 2.96% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRX | NVS |
|---|---|---|
| 2022 | -20.0% | +8.1% |
| 2023 | -3.3% | +16.1% |
| 2024 | +9.6% | +0.0% |
| 2025 | +7.0% | +47.0% |
| 2026 | +8.3% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and NVS good diversifiers for each other?
Only partially. A correlation of 0.53 means GRX and NVS 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 GRX and NVS?
The GRX/NVS correlation stands at 0.53 on a 3-year window (1 year: 0.66, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is NVS a good diversifier for GRX?
Only partially. A correlation of 0.53 means GRX and NVS 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?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grx-vs-nvs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/grx-vs-nvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRX correlations · NVS correlations
