NVMI vs ONTO: Correlation
How closely do Nova Ltd. (NVMI) and Onto Innovation Inc. (ONTO) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVMI and ONTO?
Over the past 3 years, NVMI and ONTO moved with a correlation of 0.73, which is strong. Recent behaviour matches the longer record: 0.77 over 1 year against 0.73 over 3. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 2227.5 %².
Few assets follow NVMI as closely as ONTO, which ranks #3 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with ONTO ahead by 130.3 points (+40.7% versus +171.0%).
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.
NVMI vs ONTO: side by side
| NVMI (Nova Ltd.) | ONTO (Onto Innovation Inc.) | |
|---|---|---|
| 1-year return | +40.7% | +171.0% |
| 5-year return | +266.1% | +288.7% |
| Volatility (ann.) | 51.8% | 58.7% |
| Beta vs S&P 500 | 1.93 | 2.32 |
| Max drawdown (3Y) | -40.8% | -62.8% |
| Market cap | $11.8B | $17.9B |
| P/E (trailing) | 45.7 | 110.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVMI | ONTO |
|---|---|---|
| 2022 | -44.2% | -32.7% |
| 2023 | +68.2% | +124.6% |
| 2024 | +43.4% | +9.0% |
| 2025 | +66.7% | -5.3% |
| 2026 | +12.9% | +85.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVMI and ONTO good diversifiers for each other?
Only partially. A correlation of 0.73 means NVMI and ONTO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NVMI and ONTO?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.77 over the last year and 0.76 over 5 years.
Is ONTO a good diversifier for NVMI?
Only partially. A correlation of 0.73 means NVMI and ONTO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 mean?
A reading of 0.73 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nvmi-vs-onto.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nvmi-vs-onto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NVMI correlations · ONTO correlations
