INSP vs NVAX: Correlation
Inspire Medical Systems, Inc. (INSP) and Novavax, Inc. (NVAX) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INSP and NVAX?
On 3 years of weekly data the INSP/NVAX correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.06) than the 3-year average (-0.23). The 5-year figure is -0.09, and annualized covariance runs at -1349.8 %².
Among the 10 assets we track against INSP, NVAX sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with NVAX ahead by 53.5 points (-34.1% versus +19.4%).
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.
INSP vs NVAX: side by side
| INSP (Inspire Medical Systems, Inc.) | NVAX (Novavax, Inc.) | |
|---|---|---|
| 1-year return | -34.1% | +19.4% |
| 5-year return | -72.6% | -96.1% |
| Volatility (ann.) | 67.2% | 86.3% |
| Beta vs S&P 500 | 0.77 | 1.77 |
| Max drawdown (3Y) | -84.1% | -74.1% |
| Market cap | $1.8B | $1.5B |
| P/E (trailing) | 13.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INSP | NVAX |
|---|---|---|
| 2022 | +9.5% | -92.8% |
| 2023 | -19.2% | -53.3% |
| 2024 | -8.9% | +67.5% |
| 2025 | -50.2% | -16.4% |
| 2026 | -34.1% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INSP and NVAX 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 INSP and NVAX?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.06 over the last year and -0.09 over 5 years.
Is NVAX a good diversifier for INSP?
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/insp-vs-nvax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/insp-vs-nvax/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INSP correlations · NVAX correlations
