ANNA vs NEXA: Correlation
How closely do AleAnna, Inc. (ANNA) and Nexa Resources S.A. (NEXA) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANNA and NEXA?
Over the past 3 years, ANNA and NEXA moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.23). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -1084.3 %².
Within ANNA's tracked universe of 103 assets, NEXA comes in at #74 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NEXA outperformed by 229.3 percentage points (-34.3% for ANNA against +195.0% for NEXA). One caveat on sizing: ANNA is 1.7 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.
ANNA vs NEXA: side by side
| ANNA (AleAnna, Inc.) | NEXA (Nexa Resources S.A.) | |
|---|---|---|
| 1-year return | -34.3% | +195.0% |
| 5-year return | -71.7% | +88.5% |
| Volatility (ann.) | 88.7% | 52.5% |
| Beta vs S&P 500 | -0.92 | 1.09 |
| Max drawdown (3Y) | -86.3% | -47.0% |
| Market cap | $0.1B | $1.8B |
| P/E (trailing) | 14.7 | 6.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANNA | NEXA |
|---|---|---|
| 2022 | – | -20.1% |
| 2023 | +7.3% | +22.1% |
| 2024 | -37.6% | +23.2% |
| 2025 | -57.6% | +2.7% |
| 2026 | -3.0% | +58.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANNA and NEXA good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between ANNA and NEXA?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.37 over the last year and -0.18 over 5 years.
Is NEXA a good diversifier for ANNA?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ANNA correlations · NEXA correlations
