GVH vs NKE: Correlation
How closely do Globavend Holdings Limited - Ord Shares (GVH) and Nike, Inc. (NKE) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GVH and NKE?
Over the past 3 years, GVH and NKE moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1379.0 %².
Among the 15 assets we track against GVH, NKE ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NKE outperformed by 28.4 percentage points (-77.8% for GVH against -49.4% for NKE). One caveat on sizing: GVH is 4.4 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.
GVH vs NKE: side by side
| GVH (Globavend Holdings Limited - Ord Shares) | NKE (Nike, Inc.) | |
|---|---|---|
| 1-year return | -77.8% | -49.4% |
| 5-year return | n/a | -75.2% |
| Volatility (ann.) | 162.4% | 36.6% |
| Beta vs S&P 500 | 1.17 | 0.93 |
| Max drawdown (3Y) | -99.8% | -66.9% |
| Market cap | – | $57.0B |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 0.00% | 4.22% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | GVH | NKE |
|---|---|---|
| 2022 | – | -29.0% |
| 2023 | – | -6.0% |
| 2024 | -57.5% | -29.1% |
| 2025 | -98.9% | -13.8% |
| 2026 | -29.9% | -38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GVH and NKE good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GVH and NKE?
As of 2026-08-27, the correlation of weekly returns between GVH and NKE is -0.23 over 3 years, -0.15 over 1 year and n/a over 5 years.
Is NKE a good diversifier for GVH?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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.
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Related comparisons
Hubs: GVH correlations · NKE correlations
