BYND vs NXTT: Correlation
How closely do Beyond Meat, Inc. (BYND) and Next Technology Holding Inc. (NXTT) trade together? Their weekly returns over three years give a correlation of 0.96, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BYND and NXTT?
Across a 3-year window, the weekly returns of BYND and NXTT correlate at 0.96, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.96 lands near the 3-year figure. Stretching to 5 years gives 0.96, with an annualized covariance of 16262093.0 %².
Within BYND's tracked universe of 10 assets, NXTT comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BYND outperformed by 534.8 percentage points (+440.5% for BYND against -94.3% for NXTT). One caveat on sizing: NXTT is 3.5 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.
BYND vs NXTT: side by side
| BYND (Beyond Meat, Inc.) | NXTT (Next Technology Holding Inc.) | |
|---|---|---|
| 1-year return | +440.5% | -94.3% |
| 5-year return | -88.4% | -100.0% |
| Volatility (ann.) | 2192.0% | 7704.0% |
| Beta vs S&P 500 | 5.06 | 8.14 |
| Max drawdown (3Y) | -97.2% | -100.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BYND | NXTT |
|---|---|---|
| 2022 | -81.1% | – |
| 2023 | -27.7% | -93.9% |
| 2024 | -57.8% | -36.6% |
| 2025 | -78.2% | -98.8% |
| 2026 | +1607.3% | +14.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BYND and NXTT good diversifiers for each other?
No: a correlation of 0.96 means BYND and NXTT tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BYND and NXTT?
Using weekly returns as of 2026-08-27: 0.96 over 3 years, with 0.96 over the last year and 0.96 over 5 years.
Is NXTT a good diversifier for BYND?
No: a correlation of 0.96 means BYND and NXTT tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.96 mean?
On the −1 to +1 scale, 0.96 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/bynd-vs-nxtt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bynd-vs-nxtt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BYND correlations · NXTT correlations
