NVX vs. ^GSPC
Compare and contrast key facts about Novonix Ltd ADR (NVX) and S&P 500 (^GSPC).
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NVX or ^GSPC.
Correlation
The correlation between NVX and ^GSPC is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
NVX vs. ^GSPC - Performance Comparison
Key characteristics
NVX:
-0.22
^GSPC:
1.77
NVX:
0.37
^GSPC:
2.39
NVX:
1.04
^GSPC:
1.32
NVX:
-0.22
^GSPC:
2.66
NVX:
-0.56
^GSPC:
10.85
NVX:
37.90%
^GSPC:
2.08%
NVX:
94.28%
^GSPC:
12.79%
NVX:
-93.75%
^GSPC:
-56.78%
NVX:
-93.44%
^GSPC:
0.00%
Returns By Period
In the year-to-date period, NVX achieves a -18.89% return, which is significantly lower than ^GSPC's 4.22% return.
NVX
-18.89%
-17.98%
-13.61%
-36.52%
N/A
N/A
^GSPC
4.22%
2.22%
9.51%
22.46%
12.74%
11.29%
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Risk-Adjusted Performance
NVX vs. ^GSPC — Risk-Adjusted Performance Rank
NVX
^GSPC
NVX vs. ^GSPC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Novonix Ltd ADR (NVX) and S&P 500 (^GSPC). 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.
Drawdowns
NVX vs. ^GSPC - Drawdown Comparison
The maximum NVX drawdown since its inception was -93.75%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for NVX and ^GSPC. For additional features, visit the drawdowns tool.
Volatility
NVX vs. ^GSPC - Volatility Comparison
Novonix Ltd ADR (NVX) has a higher volatility of 19.79% compared to S&P 500 (^GSPC) at 3.19%. This indicates that NVX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.