NVNI vs RDI: Correlation
How closely do Nvni Group Limited (NVNI) and Reading International Inc - Class A Non-voting (RDI) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVNI and RDI?
Over the past 3 years, NVNI and RDI moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.06) runs above the 3-year figure (-0.17). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -6931.1 %².
Within NVNI's tracked universe of 60 assets, RDI comes in at #26 by 3-year correlation. The last year tells two different stories: RDI led by 119.4 percentage points, -83.0% for NVNI against +36.4% for RDI. One caveat on sizing: NVNI is 21.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NVNI vs RDI: side by side
| NVNI (Nvni Group Limited) | RDI (Reading International Inc - Class A Non-voting) | |
|---|---|---|
| 1-year return | -83.0% | +36.4% |
| 5-year return | -98.9% | -57.8% |
| Volatility (ann.) | 949.3% | 44.2% |
| Beta vs S&P 500 | -4.03 | 0.26 |
| Max drawdown (3Y) | -99.3% | -58.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVNI | RDI |
|---|---|---|
| 2022 | +4.4% | -31.4% |
| 2023 | -85.4% | -31.0% |
| 2024 | +64.4% | -30.9% |
| 2025 | -89.2% | -20.5% |
| 2026 | -60.8% | +100.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVNI and RDI good diversifiers for each other?
Yes. With a correlation of -0.17, NVNI and RDI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NVNI and RDI?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with 0.06 over the last year and -0.14 over 5 years.
Is RDI a good diversifier for NVNI?
Yes. With a correlation of -0.17, NVNI and RDI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 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
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[](https://www.pairbook.io/pair/nvni-vs-rdi/)
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Related comparisons
Hubs: NVNI correlations · RDI correlations
