NNVC vs NVAX: Correlation
How closely do NanoViricides, Inc. (NNVC) and Novavax, Inc. (NVAX) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNVC and NVAX?
Over the past 3 years, NNVC and NVAX moved with a correlation of 0.54, which is moderate. The past 12 months show a weaker link (0.39) than the 3-year average (0.54). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 3702.1 %².
Few assets follow NNVC as closely as NVAX, which ranks #1 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months NVAX outperformed by 29.3 percentage points (-9.9% for NNVC against +19.4% for NVAX).
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.
NNVC vs NVAX: side by side
| NNVC (NanoViricides, Inc.) | NVAX (Novavax, Inc.) | |
|---|---|---|
| 1-year return | -9.9% | +19.4% |
| 5-year return | -66.8% | -96.1% |
| Volatility (ann.) | 79.5% | 86.3% |
| Beta vs S&P 500 | 0.87 | 1.77 |
| Max drawdown (3Y) | -74.3% | -74.1% |
| Market cap | – | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNVC | NVAX |
|---|---|---|
| 2022 | -70.2% | -92.8% |
| 2023 | -8.1% | -53.3% |
| 2024 | +40.2% | +67.5% |
| 2025 | -21.0% | -16.4% |
| 2026 | +13.3% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNVC and NVAX good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NNVC and NVAX?
The NNVC/NVAX correlation stands at 0.54 on a 3-year window (1 year: 0.39, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is NVAX a good diversifier for NNVC?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NNVC correlations · NVAX correlations
