INLX vs NOV: Correlation
Measured on weekly returns over the past three years, Intellinetics, Inc. (INLX) and NOV Inc. (NOV) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INLX and NOV?
Over the past 3 years, INLX and NOV moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.53 versus -0.21 over 3 years. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -447.1 %².
Among the 24 assets we track against INLX, NOV ranks #19 by 3-year correlation. The last year tells two different stories: NOV led by 108.6 percentage points, -46.4% for INLX against +62.2% for NOV. One caveat on sizing: INLX is 1.7 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.
INLX vs NOV: side by side
| INLX (Intellinetics, Inc.) | NOV (NOV Inc.) | |
|---|---|---|
| 1-year return | -46.4% | +62.2% |
| 5-year return | +7.4% | +71.8% |
| Volatility (ann.) | 60.0% | 35.6% |
| Beta vs S&P 500 | -0.07 | 0.61 |
| Max drawdown (3Y) | -65.9% | -47.2% |
| Market cap | – | $7.4B |
| P/E (trailing) | – | 74.1 |
| Dividend yield | 0.00% | 1.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INLX | NOV |
|---|---|---|
| 2022 | -43.5% | +55.7% |
| 2023 | +18.5% | -1.8% |
| 2024 | +171.7% | -26.8% |
| 2025 | -42.0% | +11.3% |
| 2026 | -34.2% | +34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INLX and NOV good diversifiers for each other?
Yes. With a correlation of -0.21, INLX and NOV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INLX and NOV?
As of 2026-08-27, the correlation of weekly returns between INLX and NOV is -0.21 over 3 years, -0.53 over 1 year and -0.08 over 5 years.
Is NOV a good diversifier for INLX?
Yes. With a correlation of -0.21, INLX and NOV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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.
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Related comparisons
Hubs: INLX correlations · NOV correlations
