AVTX vs NXL: Correlation
Measured on weekly returns over the past three years, Avalo Therapeutics, Inc. (AVTX) and Nexalin Technology, Inc. (NXL) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVTX and NXL?
Across a 3-year window, the weekly returns of AVTX and NXL correlate at 0.58, moderate. The past 12 months show a weaker link (-0.06) than the 3-year average (0.58). Stretching to 5 years gives 0.53, with an annualized covariance of 23339.0 %².
Within AVTX's tracked universe of 17 assets, NXL comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AVTX ahead by 176.1 points (+107.8% versus -68.3%).
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.
AVTX vs NXL: side by side
| AVTX (Avalo Therapeutics, Inc.) | NXL (Nexalin Technology, Inc.) | |
|---|---|---|
| 1-year return | +107.8% | -68.3% |
| 5-year return | -99.8% | n/a |
| Volatility (ann.) | 225.5% | 178.5% |
| Beta vs S&P 500 | 1.22 | 1.55 |
| Max drawdown (3Y) | -93.3% | -94.2% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVTX | NXL |
|---|---|---|
| 2022 | -75.3% | – |
| 2023 | -99.2% | -45.9% |
| 2024 | -18.4% | +581.5% |
| 2025 | +144.4% | -79.8% |
| 2026 | +10.4% | -54.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVTX and NXL good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AVTX and NXL?
The AVTX/NXL correlation stands at 0.58 on a 3-year window (1 year: -0.06, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is NXL a good diversifier for AVTX?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 mean?
A reading of 0.58 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/avtx-vs-nxl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avtx-vs-nxl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVTX correlations · NXL correlations
