NMIH vs SOLV: Correlation
NMI Holdings Inc (NMIH) and Solventum (SOLV) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NMIH and SOLV?
Across a 3-year window, the weekly returns of NMIH and SOLV correlate at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 365.4 %².
By 3-year correlation, SOLV places #7 of the 14 assets tracked against NMIH. Over the last 12 months SOLV came out ahead by 11.8 percentage points (+12.9% against +24.7%).
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.
NMIH vs SOLV: side by side
| NMIH (NMI Holdings Inc) | SOLV (Solventum) | |
|---|---|---|
| 1-year return | +12.9% | +24.7% |
| 5-year return | +99.5% | n/a |
| Volatility (ann.) | 24.1% | 30.4% |
| Beta vs S&P 500 | 0.55 | 0.62 |
| Max drawdown (3Y) | -21.4% | -40.0% |
| Market cap | $3.4B | $15.5B |
| P/E (trailing) | 8.9 | 11.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | NMIH | SOLV |
|---|---|---|
| 2022 | -4.3% | – |
| 2023 | +42.0% | – |
| 2024 | +23.9% | – |
| 2025 | +11.0% | +20.0% |
| 2026 | +9.8% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NMIH and SOLV good diversifiers for each other?
Reasonably. At 0.48, NMIH and SOLV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NMIH and SOLV?
As of 2026-08-27, the correlation of weekly returns between NMIH and SOLV is 0.48 over 3 years, 0.43 over 1 year and n/a over 5 years.
Is SOLV a good diversifier for NMIH?
Reasonably. At 0.48, NMIH and SOLV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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/nmih-vs-solv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nmih-vs-solv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NMIH correlations · SOLV correlations
