IMVT vs NEE: Correlation
Immunovant, Inc. (IMVT) and NextEra Energy (NEE) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMVT and NEE?
Across a 3-year window, the weekly returns of IMVT and NEE correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.19 over 3. Stretching to 5 years gives -0.08, with an annualized covariance of -364.1 %².
NEE is close to the least connected end of IMVT's tracked universe, ranking #11 of 14. Their recent paths diverged sharply: over the last 12 months IMVT outperformed by 172.5 percentage points (+188.7% for IMVT against +16.2% for NEE). Risk is not evenly split, since IMVT carries 2.7 times the volatility of the other side.
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.
IMVT vs NEE: side by side
| IMVT (Immunovant, Inc.) | NEE (NextEra Energy) | |
|---|---|---|
| 1-year return | +188.7% | +16.2% |
| 5-year return | +424.8% | +12.9% |
| Volatility (ann.) | 71.0% | 26.5% |
| Beta vs S&P 500 | 0.89 | 0.28 |
| Max drawdown (3Y) | -69.9% | -28.8% |
| Market cap | $9.1B | $174.1B |
| P/E (trailing) | – | 18.9 |
| Dividend yield | 0.00% | 2.82% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | IMVT | NEE |
|---|---|---|
| 2022 | +108.3% | -8.5% |
| 2023 | +137.4% | -25.3% |
| 2024 | -41.2% | +21.5% |
| 2025 | +2.6% | +15.5% |
| 2026 | +72.4% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMVT and NEE good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IMVT and NEE?
The IMVT/NEE correlation stands at -0.19 on a 3-year window (1 year: -0.25, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is NEE a good diversifier for IMVT?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
A reading of -0.19 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/imvt-vs-nee.json
Embed this badge (it refreshes with the data), with attribution:
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IMVT correlations · NEE correlations
