MDT vs NNVC: Correlation
How closely do Medtronic (MDT) and NanoViricides, Inc. (NNVC) 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 MDT and NNVC?
Over the past 3 years, MDT and NNVC moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.17). Over 5 years the correlation is 0.01, and the annualized covariance of weekly returns is -280.6 %².
By 3-year correlation, NNVC places #27 of the 34 assets tracked against MDT. On 12-month performance MDT holds a 10.8-point edge, +0.9% against -9.9%. One caveat on sizing: NNVC is 3.8 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.
MDT vs NNVC: side by side
| MDT (Medtronic) | NNVC (NanoViricides, Inc.) | |
|---|---|---|
| 1-year return | +0.9% | -9.9% |
| 5-year return | -21.4% | -66.8% |
| Volatility (ann.) | 21.0% | 79.5% |
| Beta vs S&P 500 | 0.37 | 0.87 |
| Max drawdown (3Y) | -28.9% | -74.3% |
| Market cap | $115.2B | – |
| P/E (trailing) | 24.1 | – |
| Dividend yield | 3.09% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MDT | NNVC |
|---|---|---|
| 2022 | -22.6% | -70.2% |
| 2023 | +9.6% | -8.1% |
| 2024 | +0.3% | +40.2% |
| 2025 | +24.0% | -21.0% |
| 2026 | -4.7% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDT and NNVC good diversifiers for each other?
Yes. With a correlation of -0.17, MDT and NNVC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MDT and NNVC?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.40 over the last year and 0.01 over 5 years.
Is NNVC a good diversifier for MDT?
Yes. With a correlation of -0.17, MDT and NNVC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/mdt-vs-nnvc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mdt-vs-nnvc/)
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Related comparisons
Hubs: MDT correlations · NNVC correlations
