HELE vs NEOV: Correlation
Helen of Troy Limited (HELE) and NeoVolta Inc. (NEOV) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HELE and NEOV?
Across a 3-year window, the weekly returns of HELE and NEOV correlate at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Stretching to 5 years gives -0.18, with an annualized covariance of -1578.0 %².
NEOV is close to the least connected end of HELE's tracked universe, ranking #8 of 11. Over the last 12 months HELE came out ahead by 14.0 percentage points (+15.4% against +1.4%). Note the risk asymmetry: NEOV runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HELE vs NEOV: side by side
| HELE (Helen of Troy Limited) | NEOV (NeoVolta Inc.) | |
|---|---|---|
| 1-year return | +15.4% | +1.4% |
| 5-year return | -87.9% | -45.4% |
| Volatility (ann.) | 57.0% | 111.0% |
| Beta vs S&P 500 | 1.05 | 1.32 |
| Max drawdown (3Y) | -89.0% | -79.4% |
| Market cap | $0.7B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HELE | NEOV |
|---|---|---|
| 2022 | -54.6% | -60.2% |
| 2023 | +8.9% | -42.7% |
| 2024 | -50.5% | +225.6% |
| 2025 | -64.5% | -41.7% |
| 2026 | +36.1% | +16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HELE and NEOV good diversifiers for each other?
Yes. With a correlation of -0.25, HELE and NEOV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HELE and NEOV?
As of 2026-08-27, the correlation of weekly returns between HELE and NEOV is -0.25 over 3 years, -0.25 over 1 year and -0.18 over 5 years.
Is NEOV a good diversifier for HELE?
Yes. With a correlation of -0.25, HELE and NEOV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/hele-vs-neov.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hele-vs-neov/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HELE correlations · NEOV correlations
