INDV vs TWG: Correlation
How closely do Indivior Pharmaceuticals, Inc. (INDV) and Top Wealth Group Holding Limited - Class A (TWG) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDV and TWG?
Across a 3-year window, the weekly returns of INDV and TWG correlate at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.12) than the 3-year average (-0.31). Stretching to 5 years gives n/a, with an annualized covariance of -4289.7 %².
TWG is close to the least connected end of INDV's tracked universe, ranking #11 of 11. The last year tells two different stories: INDV led by 134.5 percentage points, +44.9% for INDV against -89.6% for TWG. Risk is not evenly split, since TWG carries 4.5 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.
INDV vs TWG: side by side
| INDV (Indivior Pharmaceuticals, Inc.) | TWG (Top Wealth Group Holding Limited - Class A) | |
|---|---|---|
| 1-year return | +44.9% | -89.6% |
| 5-year return | +166.9% | n/a |
| Volatility (ann.) | 55.2% | 248.4% |
| Beta vs S&P 500 | 0.47 | 0.99 |
| Max drawdown (3Y) | -67.7% | -100.0% |
| Market cap | $4.2B | – |
| P/E (trailing) | 12.7 | 4.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDV | TWG |
|---|---|---|
| 2022 | +26.1% | – |
| 2023 | -29.8% | – |
| 2024 | -18.6% | – |
| 2025 | +188.7% | -86.8% |
| 2026 | -1.6% | -83.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDV and TWG good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between INDV and TWG?
As of 2026-08-27, the correlation of weekly returns between INDV and TWG is -0.31 over 3 years, 0.12 over 1 year and n/a over 5 years.
Is TWG a good diversifier for INDV?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
A reading of -0.31 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/indv-vs-twg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/indv-vs-twg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INDV correlations · TWG correlations
