Nova Minerals Corp (NVA) — Stock Correlations & Overview
Over the past year, NVA has moved most closely with AQMS, CRMLW, AWX. Explore the stocks most correlated and inversely correlated with NVA below, along with its price, financials, and company profile.
Stocks correlated with NVA
Correlation of daily returns. Higher positive values move with NVA; negative values move opposite it. Informational only, not investment advice.
Most correlated with NVA
| Symbol | Company | Correlation |
|---|---|---|
| AQMS | Aqua Metals, Inc. Common StockSECONDARY SMELTING & REFINING OF NONFERROUS METALS | 0.59 |
| CRMLW | Critical Metals Corp. Warrants | 0.55 |
| AWX | Avalon Holdings Corp.REFUSE SYSTEMS | 0.54 |
| CRML | Critical Metals Corp. Ordinary Shares | 0.53 |
| PYZ | Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Basic Materials Momentum ETF | 0.49 |
Most inversely correlated with NVA
| Symbol | Company | Correlation |
|---|---|---|
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.41 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.41 |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.40 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.38 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.37 |
Frequently asked questions about NVA correlations
- Which stocks are most correlated with NVA?
- Based on one year of daily returns, the stocks most correlated with Nova Minerals Corp (NVA) are AQMS (0.59), CRMLW (0.55) and AWX (0.54). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with NVA?
- Over the past year, the stocks most inversely correlated with Nova Minerals Corp (NVA) are DUST (-0.41), GDXD (-0.41) and JDST (-0.40). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these NVA correlations calculated?
- We compute the correlation of daily returns between NVA and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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