NVNI vs XELB: Correlation
How closely do Nvni Group Limited (NVNI) and Xcel Brands, Inc (XELB) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVNI and XELB?
On 3 years of weekly data the NVNI/XELB correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.23 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -18537.6 %².
By 3-year correlation, XELB places #42 of the 60 assets tracked against NVNI. The last year tells two different stories: XELB led by 52.5 percentage points, -83.0% for NVNI against -30.5% for XELB. One caveat on sizing: NVNI is 11.0 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 XELB: side by side
| NVNI (Nvni Group Limited) | XELB (Xcel Brands, Inc) | |
|---|---|---|
| 1-year return | -83.0% | -30.5% |
| 5-year return | -98.9% | -94.9% |
| Volatility (ann.) | 949.3% | 86.2% |
| Beta vs S&P 500 | -4.03 | 1.33 |
| Max drawdown (3Y) | -99.3% | -95.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVNI | XELB |
|---|---|---|
| 2022 | +4.4% | -35.8% |
| 2023 | -85.4% | +84.2% |
| 2024 | +64.4% | -60.1% |
| 2025 | -89.2% | -79.0% |
| 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 XELB good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NVNI and XELB?
As of 2026-08-27, the correlation of weekly returns between NVNI and XELB is -0.23 over 3 years, -0.03 over 1 year and -0.18 over 5 years.
Is XELB a good diversifier for NVNI?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-xelb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvni-vs-xelb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NVNI correlations · XELB correlations
