Which stocks are most correlated with NVX?

Based on one year of daily returns, the stocks most correlated with NOVONIX Limited American Depository Shares (NVX) are NB (0.53), USAR (0.47) and SETM (0.46). 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 NVX?

Over the past year, the stocks most inversely correlated with NOVONIX Limited American Depository Shares (NVX) are SARK (-0.34), TWM (-0.33) and SRTY (-0.33). A negative correlation means the two stocks have tended to move in opposite directions.

NOVONIX Limited American Depository Shares (NVX) — Stock Correlations & Overview

Over the past year, NVX has moved most closely with NB, USAR, SETM. Explore the stocks most correlated and inversely correlated with NVX below, along with its price, financials, and company profile.

Stocks correlated with NVX

Correlation of daily returns. Higher positive values move with NVX; negative values move opposite it. Informational only, not investment advice.

Most correlated with NVX

Symbol	Company	Correlation
NB	NioCorp Developments Ltd. Common StockMETAL MINING	0.53
USAR	USA Rare Earth, Inc. Class A Common StockMETAL MINING	0.47
SETM	Sprott Funds Trust Sprott Critical Materials ETF	0.46
MP	MP Materials Corp.METAL MINING	0.46
ABAT	American Battery Technology Company Common StockMINING & QUARRYING OF NONMETALLIC MINERALS (NO FUELS)	0.45

Most inversely correlated with NVX

Symbol	Company	Correlation
SARK	Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF	-0.34
TWM	ProShares UltraShort Russell2000	-0.33
SRTY	ProShares UltraPro Short Russell2000	-0.33
TZA	Direxion Daily Small Cap Bear 3x ETF	-0.33
EFZ	ProShares Trust Short MSCI EAFE	-0.33

Frequently asked questions about NVX correlations

Which stocks are most correlated with NVX?: Based on one year of daily returns, the stocks most correlated with NOVONIX Limited American Depository Shares (NVX) are NB (0.53), USAR (0.47) and SETM (0.46). 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 NVX?: Over the past year, the stocks most inversely correlated with NOVONIX Limited American Depository Shares (NVX) are SARK (-0.34), TWM (-0.33) and SRTY (-0.33). 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 NVX correlations calculated?: We compute the correlation of daily returns between NVX 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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