ADC vs NXPL: Correlation
How closely do Agree Realty Corporation (ADC) and NextPlat Corp (NXPL) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADC and NXPL?
On 3 years of weekly data the ADC/NXPL correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. The 5-year figure is -0.18, and annualized covariance runs at -295.2 %².
Out of 22 assets tracked against ADC, NXPL lands near the bottom at #21. On 12-month performance NXPL holds a 14.6-point edge, +4.9% against +19.5%. Note the risk asymmetry: NXPL runs 4.3 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.
ADC vs NXPL: side by side
| ADC (Agree Realty Corporation) | NXPL (NextPlat Corp) | |
|---|---|---|
| 1-year return | +4.9% | +19.5% |
| 5-year return | +21.4% | -85.7% |
| Volatility (ann.) | 16.6% | 71.9% |
| Beta vs S&P 500 | 0.09 | 1.10 |
| Max drawdown (3Y) | -13.0% | -84.4% |
| Market cap | $9.1B | – |
| P/E (trailing) | 39.8 | – |
| Dividend yield | 4.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADC | NXPL |
|---|---|---|
| 2022 | +3.5% | -61.1% |
| 2023 | -7.1% | +31.0% |
| 2024 | +17.2% | -34.5% |
| 2025 | +6.6% | -50.9% |
| 2026 | +4.1% | +75.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADC and NXPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between ADC and NXPL?
The ADC/NXPL correlation stands at -0.25 on a 3-year window (1 year: -0.31, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is NXPL a good diversifier for ADC?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/adc-vs-nxpl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/adc-vs-nxpl/)
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Related comparisons
Hubs: ADC correlations · NXPL correlations
