MITQ vs NVS: Correlation
How closely do Moving iMage Technologies, Inc. (MITQ) and Novartis AG (NVS) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITQ and NVS?
Across a 3-year window, the weekly returns of MITQ and NVS correlate at -0.26, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.14) runs above the 3-year figure (-0.26). Stretching to 5 years gives -0.13, with an annualized covariance of -432.2 %².
Out of 10 assets tracked against MITQ, NVS lands near the bottom at #9. The last year tells two different stories: NVS led by 48.2 percentage points, -22.6% for MITQ against +25.6% for NVS. Note the risk asymmetry: MITQ runs 4.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MITQ vs NVS: side by side
| MITQ (Moving iMage Technologies, Inc.) | NVS (Novartis AG) | |
|---|---|---|
| 1-year return | -22.6% | +25.6% |
| 5-year return | -82.9% | +103.5% |
| Volatility (ann.) | 84.1% | 19.6% |
| Beta vs S&P 500 | -0.11 | 0.25 |
| Max drawdown (3Y) | -66.4% | -20.0% |
| Market cap | – | $293.9B |
| P/E (trailing) | – | 23.4 |
| Dividend yield | 0.00% | 2.96% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MITQ | NVS |
|---|---|---|
| 2022 | -45.2% | +8.1% |
| 2023 | -17.8% | +16.1% |
| 2024 | -31.2% | +0.0% |
| 2025 | +1.7% | +47.0% |
| 2026 | -12.2% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITQ and NVS good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MITQ and NVS?
As of 2026-08-27, the correlation of weekly returns between MITQ and NVS is -0.26 over 3 years, -0.14 over 1 year and -0.13 over 5 years.
Is NVS a good diversifier for MITQ?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mitq-vs-nvs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mitq-vs-nvs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MITQ correlations · NVS correlations
