NVCR vs TWAV: Correlation
NovoCure Limited (NVCR) and TaoWeave, Inc. (TWAV) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVCR and TWAV?
On 3 years of weekly data the NVCR/TWAV correlation comes out at 0.35, moderate. Recent behaviour matches the longer record: 0.27 over 1 year against 0.35 over 3. The 5-year figure is 0.32, and annualized covariance runs at 2695.1 %².
Within NVCR's tracked universe of 12 assets, TWAV comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVCR ahead by 107.8 points (+51.0% versus -56.8%). Risk is not evenly split, since TWAV carries 1.6 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.
NVCR vs TWAV: side by side
| NVCR (NovoCure Limited) | TWAV (TaoWeave, Inc.) | |
|---|---|---|
| 1-year return | +51.0% | -56.8% |
| 5-year return | -86.6% | -99.9% |
| Volatility (ann.) | 70.1% | 108.8% |
| Beta vs S&P 500 | 1.51 | 1.85 |
| Max drawdown (3Y) | -70.0% | -97.8% |
| Market cap | $2.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVCR | TWAV |
|---|---|---|
| 2022 | -2.3% | -88.3% |
| 2023 | -79.6% | -88.9% |
| 2024 | +99.6% | -51.5% |
| 2025 | -56.6% | -53.4% |
| 2026 | +39.1% | -22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVCR and TWAV good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NVCR and TWAV?
As of 2026-08-27, the correlation of weekly returns between NVCR and TWAV is 0.35 over 3 years, 0.27 over 1 year and 0.32 over 5 years.
Is TWAV a good diversifier for NVCR?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 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: NVCR correlations · TWAV correlations
