VANI vs XEL: Correlation
Vivani Medical, Inc. (VANI) and Xcel Energy (XEL) show a negative relationship: their 3-year correlation of weekly returns is -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VANI and XEL?
Across a 3-year window, the weekly returns of VANI and XEL correlate at -0.41, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.11) runs above the 3-year figure (-0.41). Stretching to 5 years gives -0.28, with an annualized covariance of -1047.5 %².
Out of 25 assets tracked against VANI, XEL lands near the bottom at #25. On 12-month performance VANI holds a 5.6-point edge, +14.8% against +9.2%. Note the risk asymmetry: VANI runs 6.0 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.
VANI vs XEL: side by side
| VANI (Vivani Medical, Inc.) | XEL (Xcel Energy) | |
|---|---|---|
| 1-year return | +14.8% | +9.2% |
| 5-year return | -87.4% | +31.1% |
| Volatility (ann.) | 123.8% | 20.7% |
| Beta vs S&P 500 | 1.29 | 0.09 |
| Max drawdown (3Y) | -77.8% | -24.0% |
| Market cap | $0.1B | $48.2B |
| P/E (trailing) | – | 21.3 |
| Dividend yield | 0.00% | 2.99% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | VANI | XEL |
|---|---|---|
| 2022 | -82.6% | +6.4% |
| 2023 | +20.0% | -8.7% |
| 2024 | +13.7% | +12.3% |
| 2025 | +6.0% | +13.9% |
| 2026 | +13.8% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VANI and XEL good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VANI and XEL?
The VANI/XEL correlation stands at -0.41 on a 3-year window (1 year: -0.11, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is XEL a good diversifier for VANI?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 mean?
A reading of -0.41 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/vani-vs-xel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vani-vs-xel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VANI correlations · XEL correlations
