NVAX vs OGEN: Correlation
Measured on weekly returns over the past three years, Novavax, Inc. (NVAX) and Oragenics Inc. (OGEN) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVAX and OGEN?
Over the past 3 years, NVAX and OGEN moved with a correlation of 0.34, which is moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 3598.6 %².
Among the 16 assets we track against NVAX, OGEN ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVAX ahead by 71.0 points (+19.4% versus -51.6%).
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.
NVAX vs OGEN: side by side
| NVAX (Novavax, Inc.) | OGEN (Oragenics Inc.) | |
|---|---|---|
| 1-year return | +19.4% | -51.6% |
| 5-year return | -96.1% | -100.0% |
| Volatility (ann.) | 86.3% | 122.0% |
| Beta vs S&P 500 | 1.77 | 1.97 |
| Max drawdown (3Y) | -74.1% | -99.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | – | 0.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVAX | OGEN |
|---|---|---|
| 2022 | -92.8% | -75.6% |
| 2023 | -53.3% | -14.7% |
| 2024 | +67.5% | -93.4% |
| 2025 | -16.4% | -93.0% |
| 2026 | +34.7% | -31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVAX and OGEN good diversifiers for each other?
Reasonably. At 0.34, NVAX and OGEN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NVAX and OGEN?
As of 2026-08-27, the correlation of weekly returns between NVAX and OGEN is 0.34 over 3 years, 0.38 over 1 year and 0.30 over 5 years.
Is OGEN a good diversifier for NVAX?
Reasonably. At 0.34, NVAX and OGEN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: NVAX correlations · OGEN correlations
