CHNR vs NNOX: Correlation
How closely do China Natural Resources, Inc. (CHNR) and NANO-X IMAGING LTD (NNOX) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHNR and NNOX?
Across a 3-year window, the weekly returns of CHNR and NNOX correlate at 0.54, moderate. The past 12 months show a weaker link (0.06) than the 3-year average (0.54). Stretching to 5 years gives 0.30, with an annualized covariance of 4765.3 %².
In CHNR's tracked universe of 22 assets, NNOX sits right near the top at #3. The last year tells two different stories: CHNR led by 86.8 percentage points, +8.2% for CHNR against -78.6% for NNOX.
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.
CHNR vs NNOX: side by side
| CHNR (China Natural Resources, Inc.) | NNOX (NANO-X IMAGING LTD) | |
|---|---|---|
| 1-year return | +8.2% | -78.6% |
| 5-year return | -91.7% | -96.5% |
| Volatility (ann.) | 83.4% | 106.8% |
| Beta vs S&P 500 | 0.65 | 1.70 |
| Max drawdown (3Y) | -88.4% | -93.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHNR | NNOX |
|---|---|---|
| 2022 | -34.5% | -49.2% |
| 2023 | -16.3% | -13.7% |
| 2024 | -57.2% | +13.0% |
| 2025 | -33.8% | -61.1% |
| 2026 | +13.9% | -69.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHNR and NNOX good diversifiers for each other?
Only partially. A correlation of 0.54 means CHNR and NNOX 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 CHNR and NNOX?
The CHNR/NNOX correlation stands at 0.54 on a 3-year window (1 year: 0.06, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is NNOX a good diversifier for CHNR?
Only partially. A correlation of 0.54 means CHNR and NNOX 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/chnr-vs-nnox.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chnr-vs-nnox/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CHNR correlations · NNOX correlations
