IVVD vs NBIX: Correlation
Measured on weekly returns over the past three years, Invivyd, Inc. (IVVD) and Neurocrine Biosciences, Inc. (NBIX) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVVD and NBIX?
On 3 years of weekly data the IVVD/NBIX correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.25). The 5-year figure is -0.21, and annualized covariance runs at -2472.4 %².
Out of 24 assets tracked against IVVD, NBIX lands near the bottom at #21. The trailing year gives NBIX the advantage: +3.3% versus +12.9%, a 9.6-point spread. One caveat on sizing: IVVD is 9.6 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.
IVVD vs NBIX: side by side
| IVVD (Invivyd, Inc.) | NBIX (Neurocrine Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +3.3% | +12.9% |
| 5-year return | -97.2% | +62.5% |
| Volatility (ann.) | 305.9% | 31.8% |
| Beta vs S&P 500 | 1.87 | 0.60 |
| Max drawdown (3Y) | -92.9% | -42.9% |
| Market cap | $0.3B | $15.8B |
| P/E (trailing) | – | 22.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IVVD | NBIX |
|---|---|---|
| 2022 | -79.3% | +40.2% |
| 2023 | +162.7% | +10.3% |
| 2024 | -88.8% | +3.6% |
| 2025 | +457.6% | +3.9% |
| 2026 | -63.6% | +9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVVD and NBIX good diversifiers for each other?
Yes. With a correlation of -0.25, IVVD and NBIX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IVVD and NBIX?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.14 over the last year and -0.21 over 5 years.
Is NBIX a good diversifier for IVVD?
Yes. With a correlation of -0.25, IVVD and NBIX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IVVD correlations · NBIX correlations
