NEOV vs SHEN: Correlation
Measured on weekly returns over the past three years, NeoVolta Inc. (NEOV) and Shenandoah Telecommunications Co (SHEN) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEOV and SHEN?
Over the past 3 years, NEOV and SHEN moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -868.1 %².
SHEN is close to the least connected end of NEOV's tracked universe, ranking #11 of 14. Over the last 12 months NEOV came out ahead by 9.9 percentage points (+1.4% against -8.5%). One caveat on sizing: NEOV is 2.6 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.
NEOV vs SHEN: side by side
| NEOV (NeoVolta Inc.) | SHEN (Shenandoah Telecommunications Co) | |
|---|---|---|
| 1-year return | +1.4% | -8.5% |
| 5-year return | -45.4% | -57.4% |
| Volatility (ann.) | 111.0% | 41.9% |
| Beta vs S&P 500 | 1.32 | 0.25 |
| Max drawdown (3Y) | -79.4% | -59.2% |
| Market cap | $0.2B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEOV | SHEN |
|---|---|---|
| 2022 | -60.2% | -37.5% |
| 2023 | -42.7% | +36.6% |
| 2024 | +225.6% | -41.3% |
| 2025 | -41.7% | -7.4% |
| 2026 | +16.8% | +5.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEOV and SHEN good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NEOV and SHEN?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.20 over the last year and -0.19 over 5 years.
Is SHEN a good diversifier for NEOV?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
A reading of -0.19 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/neov-vs-shen.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/neov-vs-shen/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NEOV correlations · SHEN correlations
