LUCY vs NDSN: Correlation
How closely do Innovative Eyewear, Inc. (LUCY) and Nordson Corporation (NDSN) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LUCY and NDSN?
Across a 3-year window, the weekly returns of LUCY and NDSN correlate at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.12 versus -0.17 over 3 years. Stretching to 5 years gives -0.06, with an annualized covariance of -1107.1 %².
Within LUCY's tracked universe of 16 assets, NDSN comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NDSN outperformed by 100.2 percentage points (-51.7% for LUCY against +48.5% for NDSN). Risk is not evenly split, since LUCY carries 10.5 times the volatility of the other side.
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.
LUCY vs NDSN: side by side
| LUCY (Innovative Eyewear, Inc.) | NDSN (Nordson Corporation) | |
|---|---|---|
| 1-year return | -51.7% | +48.5% |
| 5-year return | n/a | +46.5% |
| Volatility (ann.) | 259.2% | 24.7% |
| Beta vs S&P 500 | 1.73 | 0.97 |
| Max drawdown (3Y) | -96.7% | -39.1% |
| Market cap | – | $18.4B |
| P/E (trailing) | – | 33.5 |
| Dividend yield | 0.00% | 0.98% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | LUCY | NDSN |
|---|---|---|
| 2022 | – | -5.9% |
| 2023 | -69.2% | +12.4% |
| 2024 | -41.7% | -20.1% |
| 2025 | -79.7% | +17.0% |
| 2026 | -5.6% | +38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LUCY and NDSN good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LUCY and NDSN?
The LUCY/NDSN correlation stands at -0.17 on a 3-year window (1 year: 0.12, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is NDSN a good diversifier for LUCY?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 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/lucy-vs-ndsn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lucy-vs-ndsn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LUCY correlations · NDSN correlations
