MOV vs SPCE: Correlation
How closely do Movado Group Inc. (MOV) and Virgin Galactic Holdings, Inc. (SPCE) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOV and SPCE?
On 3 years of weekly data the MOV/SPCE correlation comes out at 0.56, moderate. The link has tightened recently: the 1-year correlation (0.67) runs above the 3-year figure (0.56). The 5-year figure is 0.51, and annualized covariance runs at 2212.5 %².
In MOV's tracked universe of 18 assets, SPCE sits right near the top at #3. The last year tells two different stories: MOV led by 112.1 percentage points, +109.2% for MOV against -2.9% for SPCE. Note the risk asymmetry: SPCE runs 2.6 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.
MOV vs SPCE: side by side
| MOV (Movado Group Inc.) | SPCE (Virgin Galactic Holdings, Inc.) | |
|---|---|---|
| 1-year return | +109.2% | -2.9% |
| 5-year return | +29.6% | -99.4% |
| Volatility (ann.) | 39.1% | 100.5% |
| Beta vs S&P 500 | 1.15 | 2.82 |
| Max drawdown (3Y) | -55.1% | -96.0% |
| Market cap | $0.8B | $0.5B |
| P/E (trailing) | 19.4 | – |
| Dividend yield | 2.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MOV | SPCE |
|---|---|---|
| 2022 | -19.7% | -74.0% |
| 2023 | +2.0% | -29.6% |
| 2024 | -30.6% | -88.0% |
| 2025 | +13.9% | -45.4% |
| 2026 | +71.7% | -6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOV and SPCE good diversifiers for each other?
Only partially. A correlation of 0.56 means MOV and SPCE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MOV and SPCE?
The MOV/SPCE correlation stands at 0.56 on a 3-year window (1 year: 0.67, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is SPCE a good diversifier for MOV?
Only partially. A correlation of 0.56 means MOV and SPCE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/mov-vs-spce.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mov-vs-spce/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MOV correlations · SPCE correlations
