AEC vs NXE: Correlation
How closely do Anfield Energy Inc. (AEC) and Nexgen Energy Ltd. (NXE) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEC and NXE?
Over the past 3 years, AEC and NXE moved with a correlation of 0.51, which is moderate. The past 12 months show a tighter link (0.73) than the 3-year average (0.51). Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 2660.8 %².
In AEC's tracked universe of 11 assets, NXE sits right near the top at #1. Correlation aside, the last 12 months split them widely, with NXE ahead by 65.6 points (-11.0% versus +54.6%). One caveat on sizing: AEC is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AEC vs NXE: side by side
| AEC (Anfield Energy Inc.) | NXE (Nexgen Energy Ltd.) | |
|---|---|---|
| 1-year return | -11.0% | +54.6% |
| 5-year return | -37.7% | +144.9% |
| Volatility (ann.) | 102.5% | 50.8% |
| Beta vs S&P 500 | 1.85 | 1.48 |
| Max drawdown (3Y) | -65.7% | -54.3% |
| Market cap | $0.1B | $7.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEC | NXE |
|---|---|---|
| 2022 | -50.0% | +1.4% |
| 2023 | +50.0% | +58.0% |
| 2024 | +0.0% | -5.7% |
| 2025 | +14.0% | +39.4% |
| 2026 | -9.0% | +21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEC and NXE good diversifiers for each other?
Only partially. A correlation of 0.51 means AEC and NXE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AEC and NXE?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.73 over the last year and 0.45 over 5 years.
Is NXE a good diversifier for AEC?
Only partially. A correlation of 0.51 means AEC and NXE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aec-vs-nxe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aec-vs-nxe/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEC correlations · NXE correlations
