LAR vs NVX: Correlation
Lithium Argentina AG (LAR) and NOVONIX Limited - American Depository Shares (NVX) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAR and NVX?
Across a 3-year window, the weekly returns of LAR and NVX correlate at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 2737.6 %².
Within LAR's tracked universe of 16 assets, NVX comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LAR outperformed by 189.3 percentage points (+113.9% for LAR against -75.4% for NVX).
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.
LAR vs NVX: side by side
| LAR (Lithium Argentina AG) | NVX (NOVONIX Limited - American Depository Shares) | |
|---|---|---|
| 1-year return | +113.9% | -75.4% |
| 5-year return | -12.4% | -98.4% |
| Volatility (ann.) | 67.6% | 96.1% |
| Beta vs S&P 500 | 1.61 | 1.02 |
| Max drawdown (3Y) | -79.6% | -88.4% |
| Market cap | $1.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LAR | NVX |
|---|---|---|
| 2022 | -34.9% | – |
| 2023 | -17.2% | -52.7% |
| 2024 | -58.5% | -7.2% |
| 2025 | +113.0% | -43.9% |
| 2026 | +23.8% | -64.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAR and NVX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LAR and NVX?
The LAR/NVX correlation stands at 0.42 on a 3-year window (1 year: 0.41, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is NVX a good diversifier for LAR?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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/lar-vs-nvx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lar-vs-nvx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LAR correlations · NVX correlations
