AEHL vs NYAX: Correlation
Antelope Enterprise Holdings Limited - Class A (AEHL) and Nayax Ltd. (NYAX) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEHL and NYAX?
Over the past 3 years, AEHL and NYAX moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.30 over 3 years. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -17210.1 %².
Among the 26 assets we track against AEHL, NYAX sits near the bottom by co-movement, at rank #23. The last year tells two different stories: NYAX led by 83.0 percentage points, -73.6% for AEHL against +9.4% for NYAX. One caveat on sizing: AEHL is 24.5 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.
AEHL vs NYAX: side by side
| AEHL (Antelope Enterprise Holdings Limited - Class A) | NYAX (Nayax Ltd.) | |
|---|---|---|
| 1-year return | -73.6% | +9.4% |
| 5-year return | -99.9% | n/a |
| Volatility (ann.) | 1193.4% | 48.8% |
| Beta vs S&P 500 | 1.91 | 0.48 |
| Max drawdown (3Y) | -100.0% | -39.1% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | 261.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEHL | NYAX |
|---|---|---|
| 2022 | -62.9% | – |
| 2023 | -56.1% | -3.3% |
| 2024 | -91.1% | +53.1% |
| 2025 | -80.8% | +73.5% |
| 2026 | -52.1% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEHL and NYAX good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AEHL and NYAX?
As of 2026-08-27, the correlation of weekly returns between AEHL and NYAX is -0.30 over 3 years, -0.46 over 1 year and -0.26 over 5 years.
Is NYAX a good diversifier for AEHL?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 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
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[](https://www.pairbook.io/pair/aehl-vs-nyax/)
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Related comparisons
Hubs: AEHL correlations · NYAX correlations
