NIVF vs SPY: Correlation
Measured on weekly returns over the past three years, NewGenIvf Group Limited - Class A (NIVF) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.10, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NIVF and SPY?
Across a 3-year window, the weekly returns of NIVF and SPY correlate at 0.10, weak. The link has tightened recently: the 1-year correlation (0.30) runs above the 3-year figure (0.10). Stretching to 5 years gives 0.07, with an annualized covariance of 1115.0 %².
By 3-year correlation, SPY places #20 of the 37 assets tracked against NIVF. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 120.5 percentage points (-99.9% for NIVF against +20.6% for SPY). Risk is not evenly split, since NIVF carries 55.2 times the volatility of the other side.
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 SPY: side by side
| NIVF (NewGenIvf Group Limited - Class A) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -99.9% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 800.3% | 14.5% |
| Beta vs S&P 500 | 5.34 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 0.0 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | NIVF | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | +6.9% | +26.2% |
| 2024 | -96.3% | +24.9% |
| 2025 | -99.3% | +17.7% |
| 2026 | -98.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NIVF and SPY good diversifiers for each other?
Yes. With a correlation of 0.10, NIVF and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NIVF and SPY?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with 0.30 over the last year and 0.07 over 5 years.
Is SPY a good diversifier for NIVF?
Yes. With a correlation of 0.10, NIVF and SPY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.10 mean?
A reading of 0.10 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/nivf-vs-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nivf-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NIVF correlations · SPY correlations
