CISS vs NXGL: Correlation
Measured on weekly returns over the past three years, C3is Inc. (CISS) and NexGel, Inc (NXGL) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CISS and NXGL?
Across a 3-year window, the weekly returns of CISS and NXGL correlate at 0.35, moderate. The past 12 months show a tighter link (0.55) than the 3-year average (0.35). Stretching to 5 years gives n/a, with an annualized covariance of 58149.7 %².
By 3-year correlation, NXGL places #15 of the 42 assets tracked against CISS. Over the last 12 months NXGL came out ahead by 14.5 percentage points (-99.5% against -85.0%). Note the risk asymmetry: CISS runs 26.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CISS vs NXGL: side by side
| CISS (C3is Inc.) | NXGL (NexGel, Inc) | |
|---|---|---|
| 1-year return | -99.5% | -85.0% |
| 5-year return | n/a | -90.1% |
| Volatility (ann.) | 2098.5% | 79.8% |
| Beta vs S&P 500 | 2.24 | 1.14 |
| Max drawdown (3Y) | -100.0% | -93.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CISS | NXGL |
|---|---|---|
| 2022 | – | -52.1% |
| 2023 | – | +70.4% |
| 2024 | -98.9% | +109.4% |
| 2025 | -97.3% | -63.9% |
| 2026 | -93.4% | -78.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CISS and NXGL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CISS and NXGL?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.55 over the last year and n/a over 5 years.
Is NXGL a good diversifier for CISS?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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/ciss-vs-nxgl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ciss-vs-nxgl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CISS correlations · NXGL correlations
