NEOV vs STEP: Correlation
How closely do NeoVolta Inc. (NEOV) and StepStone Group Inc. (STEP) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEOV and STEP?
Across a 3-year window, the weekly returns of NEOV and STEP correlate at 0.36, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.36 over 3. Stretching to 5 years gives 0.25, with an annualized covariance of 1495.5 %².
In NEOV's tracked universe of 14 assets, STEP sits right near the top at #3. Correlation aside, the last 12 months split them widely, with NEOV ahead by 18.5 points (+1.4% versus -17.1%). One caveat on sizing: NEOV is 2.9 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 STEP: side by side
| NEOV (NeoVolta Inc.) | STEP (StepStone Group Inc.) | |
|---|---|---|
| 1-year return | +1.4% | -17.1% |
| 5-year return | -45.4% | +20.7% |
| Volatility (ann.) | 111.0% | 37.9% |
| Beta vs S&P 500 | 1.32 | 1.43 |
| Max drawdown (3Y) | -79.4% | -46.9% |
| Market cap | $0.2B | $6.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEOV | STEP |
|---|---|---|
| 2022 | -60.2% | -37.8% |
| 2023 | -42.7% | +31.7% |
| 2024 | +225.6% | +85.9% |
| 2025 | -41.7% | +13.6% |
| 2026 | +16.8% | -19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEOV and STEP good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NEOV and STEP?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.42 over the last year and 0.25 over 5 years.
Is STEP a good diversifier for NEOV?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
A reading of 0.36 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-step.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/neov-vs-step/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NEOV correlations · STEP correlations
