NIVF vs PZZA: Correlation
How closely do NewGenIvf Group Limited - Class A (NIVF) and Papa John's International, Inc. (PZZA) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NIVF and PZZA?
Across a 3-year window, the weekly returns of NIVF and PZZA correlate at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 15406.9 %².
Within NIVF's tracked universe of 37 assets, PZZA comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PZZA ahead by 49.6 points (-99.9% versus -50.3%). Note the risk asymmetry: NIVF runs 16.6 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.
NIVF vs PZZA: side by side
| NIVF (NewGenIvf Group Limited - Class A) | PZZA (Papa John's International, Inc.) | |
|---|---|---|
| 1-year return | -99.9% | -50.3% |
| 5-year return | -100.0% | -78.5% |
| Volatility (ann.) | 800.3% | 48.3% |
| Beta vs S&P 500 | 5.34 | 0.83 |
| Max drawdown (3Y) | -100.0% | -66.8% |
| Market cap | – | $0.8B |
| P/E (trailing) | 0.0 | 29.0 |
| Dividend yield | 0.00% | 7.79% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NIVF | PZZA |
|---|---|---|
| 2022 | – | -37.3% |
| 2023 | +6.9% | -5.3% |
| 2024 | -96.3% | -44.2% |
| 2025 | -99.3% | -2.0% |
| 2026 | -98.1% | -38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NIVF and PZZA good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NIVF and PZZA?
As of 2026-08-27, the correlation of weekly returns between NIVF and PZZA is 0.40 over 3 years, 0.34 over 1 year and 0.35 over 5 years.
Is PZZA a good diversifier for NIVF?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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/nivf-vs-pzza.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nivf-vs-pzza/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NIVF correlations · PZZA correlations
