CISS vs NYAX: Correlation
C3is Inc. (CISS) and Nayax Ltd. (NYAX) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CISS and NYAX?
Over the past 3 years, CISS and NYAX moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.52) runs below the 3-year figure (-0.33). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -33550.2 %².
NYAX is close to the least connected end of CISS's tracked universe, ranking #38 of 42. Their recent paths diverged sharply: over the last 12 months NYAX outperformed by 108.9 percentage points (-99.5% for CISS against +9.4% for NYAX). One caveat on sizing: CISS is 43.0 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.
CISS vs NYAX: side by side
| CISS (C3is Inc.) | NYAX (Nayax Ltd.) | |
|---|---|---|
| 1-year return | -99.5% | +9.4% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 2098.5% | 48.8% |
| Beta vs S&P 500 | 2.24 | 0.48 |
| Max drawdown (3Y) | -100.0% | -39.1% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | 261.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CISS | NYAX |
|---|---|---|
| 2023 | – | -3.3% |
| 2024 | -98.9% | +53.1% |
| 2025 | -97.3% | +73.5% |
| 2026 | -93.4% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CISS and NYAX good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between CISS and NYAX?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.52 over the last year and n/a over 5 years.
Is NYAX a good diversifier for CISS?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
A reading of -0.33 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/ciss-vs-nyax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ciss-vs-nyax/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CISS correlations · NYAX correlations
