NIVF vs WTM: Correlation
NewGenIvf Group Limited - Class A (NIVF) and White Mountains Insurance Group, Ltd. (WTM) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NIVF and WTM?
On 3 years of weekly data the NIVF/WTM correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.06) runs above the 3-year figure (-0.21). The 5-year figure is -0.16, and annualized covariance runs at -3491.3 %².
Among the 37 assets we track against NIVF, WTM ranks #22 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WTM ahead by 115.2 points (-99.9% versus +15.3%). One caveat on sizing: NIVF is 38.8 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.
NIVF vs WTM: side by side
| NIVF (NewGenIvf Group Limited - Class A) | WTM (White Mountains Insurance Group, Ltd.) | |
|---|---|---|
| 1-year return | -99.9% | +15.3% |
| 5-year return | -100.0% | +90.5% |
| Volatility (ann.) | 800.3% | 20.6% |
| Beta vs S&P 500 | 5.34 | 0.23 |
| Max drawdown (3Y) | -100.0% | -18.0% |
| Market cap | – | $5.1B |
| P/E (trailing) | 0.0 | 4.9 |
| Dividend yield | 0.00% | 0.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NIVF | WTM |
|---|---|---|
| 2022 | – | +39.6% |
| 2023 | +6.9% | +6.5% |
| 2024 | -96.3% | +29.3% |
| 2025 | -99.3% | +6.9% |
| 2026 | -98.1% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NIVF and WTM good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NIVF and WTM?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with 0.06 over the last year and -0.16 over 5 years.
Is WTM a good diversifier for NIVF?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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.
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Related comparisons
Hubs: NIVF correlations · WTM correlations
