NVNI vs TNXP: Correlation
Measured on weekly returns over the past three years, Nvni Group Limited (NVNI) and Tonix Pharmaceuticals Holding Corp. (TNXP) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVNI and TNXP?
Over the past 3 years, NVNI and TNXP moved with a correlation of 0.56, which is moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.56). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 87490.2 %².
Within NVNI's tracked universe of 60 assets, TNXP comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TNXP ahead by 25.1 points (-83.0% versus -57.9%). Note the risk asymmetry: NVNI runs 5.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TNXP: side by side
| NVNI (Nvni Group Limited) | TNXP (Tonix Pharmaceuticals Holding Corp.) | |
|---|---|---|
| 1-year return | -83.0% | -57.9% |
| 5-year return | -98.9% | -100.0% |
| Volatility (ann.) | 949.3% | 164.8% |
| Beta vs S&P 500 | -4.03 | 1.57 |
| Max drawdown (3Y) | -99.3% | -99.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVNI | TNXP |
|---|---|---|
| 2022 | +4.4% | -96.6% |
| 2023 | -85.4% | -83.6% |
| 2024 | +64.4% | -97.4% |
| 2025 | -89.2% | -52.7% |
| 2026 | -60.8% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVNI and TNXP good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NVNI and TNXP?
The NVNI/TNXP correlation stands at 0.56 on a 3-year window (1 year: 0.18, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is TNXP a good diversifier for NVNI?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nvni-vs-tnxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nvni-vs-tnxp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NVNI correlations · TNXP correlations
