NVNO vs. ASA

Last updated Aug 1, 2026

NVNO (enVVeno Medical Corporation) and ASA (ASA Gold and Precious Metals Limited) are both stocks. NVNO operates in Medical Devices (Healthcare), while ASA operates in Asset Management (Financial Services). Over the past 5 years, NVNO returned -45.26%/yr vs 17.39%/yr for ASA. Their 0.05 correlation means their historical movements had little consistent relationship.

Performance

NVNO vs. ASA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in enVVeno Medical Corporation (NVNO) and ASA Gold and Precious Metals Limited (ASA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVNO achieves a -5.59% return, which is significantly higher than ASA's -17.95% return.

NVNO

• 1D: -0.25%
• 1M: -4.59%
• 6M: -11.15%
• YTD: -5.59%
• 1Y: -93.78%
• 3Y*: -61.19%
• 5Y*: -45.26%
• 10Y*: —
• ALL TIME*: -52.17%

ASA

• 1D: -3.72%
• 1M: -10.19%
• 6M: -24.14%
• YTD: -17.95%
• 1Y: 57.88%
• 3Y*: 48.40%
• 5Y*: 17.39%
• 10Y*: 11.69%
• ALL TIME*: 5.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASA ASA Gold and Precious Metals Limited	$2.82M	$3.11M	$5.38M
NVNO enVVeno Medical Corporation	$234.78K	$235.71K	$143.02K

NVNO vs. ASA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NVNO enVVeno Medical Corporation	-5.59%	-89.38%	-41.25%	0.78%	-22.61%	-23.82%	-37.09%	-62.71%	-70.50%
ASA ASA Gold and Precious Metals Limited	-17.95%	195.60%	34.55%	5.38%	-32.06%	-3.48%	60.65%	44.35%	-9.54%

Correlation

The correlation between NVNO and ASA is 0.12, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.12
Correlation (3Y) Balances recent behavior with more history.	0.09
Correlation (5Y) Shows whether the relationship held over a longer period.	0.09
Correlation (All Time) Calculated using the full available price history since May 31, 2018	0.05

Fundamentals

Market Cap NVNO : $174.93K ASA : $919.29M
EPS NVNO : -$87.31 ASA : $57.83
PB Ratio NVNO : 0.34 ASA : 0.66
Total Revenue (TTM) NVNO : $0.00 ASA : $275.38M
Gross Profit (TTM) NVNO : -$361.00K ASA : $265.51M
EBITDA (TTM) NVNO : -$15.56M ASA : $951.42M

Return for Risk

NVNO vs. ASA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NVNO

NVNO Risk / Return Rank: 8
NVNO Sharpe Ratio Rank: 9
NVNO Sortino Ratio Rank: 5
NVNO Omega Ratio Rank: 2
NVNO Calmar Ratio Rank: 3
NVNO Martin Ratio Rank: 20

ASA

ASA Risk / Return Rank: 74
ASA Sharpe Ratio Rank: 79
ASA Sortino Ratio Rank: 73
ASA Omega Ratio Rank: 73
ASA Calmar Ratio Rank: 73
ASA Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NVNO vs. ASA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for enVVeno Medical Corporation (NVNO) and ASA Gold and Precious Metals Limited (ASA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NVNO	ASA	Difference
Sharpe ratio: Return per unit of total volatility	-0.80	1.17	-1.97
Sortino ratio: Return per unit of downside risk	-1.70	1.62	-3.32
Omega ratio: Gain probability vs. loss probability	0.72	1.21	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.98	1.44	-2.42
Martin ratio: Return relative to average drawdown	-1.05	3.24	-4.29

NVNO vs. ASA - Sharpe Ratio Comparison

The current NVNO Sharpe Ratio is -0.80, which is lower than the ASA Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of NVNO and ASA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NVNO vs. ASA - Drawdown Comparison

The maximum NVNO drawdown since its inception was -99.81%, which is greater than ASA's maximum drawdown of -80.36%. Use the drawdown chart below to compare losses from any high point for NVNO and ASA.

Drawdown Indicators

	NVNO	ASA	Difference
Max Drawdown Largest peak-to-trough decline	-99.81%	-80.36%	-19.45%
Max Drawdown (1Y) Largest decline over 1 year	-95.04%	-40.80%	-54.24%
Max Drawdown (3Y) Largest decline over 3 years	-96.27%	-40.80%	-55.47%
Max Drawdown (5Y) Largest decline over 5 years	-97.66%	-48.43%	-49.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.66%	—
Current Drawdown Current decline from peak	-99.77%	-39.77%	-60.00%
Average Drawdown Average peak-to-trough decline	-90.11%	-42.51%	-47.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	88.64%	18.06%	+70.58%

Volatility

NVNO vs. ASA - Volatility Comparison

enVVeno Medical Corporation (NVNO) has a higher volatility of 13.76% compared to ASA Gold and Precious Metals Limited (ASA) at 12.61%. This indicates that NVNO's price experiences larger fluctuations and is considered to be riskier than ASA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVNO	ASA	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.76%	12.61%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	56.04%	40.75%	+15.29%
Volatility (1Y) Calculated over the trailing 1-year period	116.84%	50.19%	+66.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.71%	35.93%	+45.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.20%	35.56%	+57.64%

Dividends

NVNO vs. ASA - Dividend Comparison

NVNO has not paid dividends to shareholders, while ASA's dividend yield for the trailing twelve months is around 0.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASA ASA Gold and Precious Metals Limited	0.14%	0.10%	0.20%	0.13%	0.14%	0.09%	0.09%	0.15%	0.32%	0.35%	0.36%	0.56%
NVNO enVVeno Medical Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both NVNO and ASA in my portfolio?

NVNO and ASA have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVNO or ASA?

NVNO has higher volatility (13.76%) compared to ASA (12.61%). In terms of maximum drawdown, NVNO dropped -99.81% vs ASA's -80.36%.

Which has better risk-adjusted returns?

ASA currently has the higher Sharpe Ratio (1.17 vs -0.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.