ASA vs NBTX: Correlation
ASA Gold and Precious Metals Limited (ASA) and Nanobiotix S.A. (NBTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and NBTX?
Over the past 3 years, ASA and NBTX moved with a correlation of 0.33, which is moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.33 over 3. Over 5 years the correlation is 0.21, and the annualized covariance of weekly returns is 1024.7 %².
Among the 59 assets we track against ASA, NBTX ranks #54 by 3-year correlation. The last year tells two different stories: NBTX led by 325.3 percentage points, +77.0% for ASA against +402.3% for NBTX. One caveat on sizing: NBTX 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.
ASA vs NBTX: side by side
| ASA (ASA Gold and Precious Metals Limited) | NBTX (Nanobiotix S.A.) | |
|---|---|---|
| 1-year return | +77.0% | +402.3% |
| 5-year return | +218.5% | +223.5% |
| Volatility (ann.) | 42.5% | 72.0% |
| Beta vs S&P 500 | 0.92 | 0.72 |
| Max drawdown (3Y) | -40.8% | -73.2% |
| Market cap | – | $2.3B |
| P/E (trailing) | 1.7 | – |
| Dividend yield | 0.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | NBTX |
|---|---|---|
| 2022 | -32.1% | -54.7% |
| 2023 | +5.4% | +98.4% |
| 2024 | +34.5% | -60.6% |
| 2025 | +195.6% | +705.6% |
| 2026 | +9.5% | +95.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and NBTX good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASA and NBTX?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.40 over the last year and 0.21 over 5 years.
Is NBTX a good diversifier for ASA?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 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/asa-vs-nbtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asa-vs-nbtx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASA correlations · NBTX correlations
