BWXT vs NXE: Correlation
BWX Technologies, Inc. (BWXT) and Nexgen Energy Ltd. (NXE) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWXT and NXE?
On 3 years of weekly data the BWXT/NXE correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.54 over 3. The 5-year figure is 0.53, and annualized covariance runs at 921.1 %².
NXE is one of the assets that tracks BWXT most closely: it ranks #2 out of the 10 assets we track against BWXT. Their recent paths diverged sharply: over the last 12 months NXE outperformed by 59.9 percentage points (-5.3% for BWXT against +54.6% for NXE). Risk is not evenly split, since NXE carries 1.5 times the volatility of the other side.
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.
BWXT vs NXE: side by side
| BWXT (BWX Technologies, Inc.) | NXE (Nexgen Energy Ltd.) | |
|---|---|---|
| 1-year return | -5.3% | +54.6% |
| 5-year return | +188.9% | +144.9% |
| Volatility (ann.) | 33.5% | 50.8% |
| Beta vs S&P 500 | 1.01 | 1.48 |
| Max drawdown (3Y) | -37.1% | -54.3% |
| Market cap | $14.3B | $7.5B |
| P/E (trailing) | 39.7 | – |
| Dividend yield | 0.68% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWXT | NXE |
|---|---|---|
| 2022 | +23.3% | +1.4% |
| 2023 | +33.9% | +58.0% |
| 2024 | +46.5% | -5.7% |
| 2025 | +56.4% | +39.4% |
| 2026 | -9.4% | +21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWXT and NXE good diversifiers for each other?
Only partially. A correlation of 0.54 means BWXT 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 BWXT and NXE?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.50 over the last year and 0.53 over 5 years.
Is NXE a good diversifier for BWXT?
Only partially. A correlation of 0.54 means BWXT 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 0.54 mean?
On the −1 to +1 scale, 0.54 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/bwxt-vs-nxe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwxt-vs-nxe/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BWXT correlations · NXE correlations
