LIVN vs NGVT: Correlation
LivaNova PLC (LIVN) and Ingevity Corporation (NGVT) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LIVN and NGVT?
Across a 3-year window, the weekly returns of LIVN and NGVT correlate at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.49). Stretching to 5 years gives 0.45, with an annualized covariance of 970.8 %².
In LIVN's tracked universe of 16 assets, NGVT sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months LIVN outperformed by 20.2 percentage points (+41.7% for LIVN against +21.5% for NGVT).
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.
LIVN vs NGVT: side by side
| LIVN (LivaNova PLC) | NGVT (Ingevity Corporation) | |
|---|---|---|
| 1-year return | +41.7% | +21.5% |
| 5-year return | -2.9% | -14.1% |
| Volatility (ann.) | 40.6% | 48.8% |
| Beta vs S&P 500 | 0.98 | 1.39 |
| Max drawdown (3Y) | -47.2% | -45.8% |
| Market cap | $4.4B | $2.4B |
| P/E (trailing) | 23.6 | 98.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LIVN | NGVT |
|---|---|---|
| 2022 | -36.5% | -1.8% |
| 2023 | -6.8% | -33.0% |
| 2024 | -10.5% | -13.7% |
| 2025 | +32.9% | +45.2% |
| 2026 | +30.1% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LIVN and NGVT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LIVN and NGVT?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.30 over the last year and 0.45 over 5 years.
Is NGVT a good diversifier for LIVN?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/livn-vs-ngvt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/livn-vs-ngvt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LIVN correlations · NGVT correlations
