CODX vs NXXT: Correlation
Measured on weekly returns over the past three years, Co-Diagnostics, Inc. (CODX) and NextNRG, Inc. (NXXT) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CODX and NXXT?
Over the past 3 years, CODX and NXXT moved with a correlation of 0.65, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.78 versus 0.65 over 3 years. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 20827.3 %².
Few assets follow CODX as closely as NXXT, which ranks #3 of 24 tracked partners. Their 12-month results are close: -87.1% for CODX against -86.6% for NXXT.
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.
CODX vs NXXT: side by side
| CODX (Co-Diagnostics, Inc.) | NXXT (NextNRG, Inc.) | |
|---|---|---|
| 1-year return | -87.1% | -86.6% |
| 5-year return | -99.6% | -99.7% |
| Volatility (ann.) | 203.9% | 157.3% |
| Beta vs S&P 500 | 2.30 | 1.37 |
| Max drawdown (3Y) | -97.9% | -97.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CODX | NXXT |
|---|---|---|
| 2022 | -71.8% | -79.6% |
| 2023 | -47.2% | -27.8% |
| 2024 | -43.6% | -23.6% |
| 2025 | -77.5% | -53.2% |
| 2026 | -75.1% | -83.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CODX and NXXT good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CODX and NXXT?
The CODX/NXXT correlation stands at 0.65 on a 3-year window (1 year: 0.78, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is NXXT a good diversifier for CODX?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/codx-vs-nxxt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/codx-vs-nxxt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CODX correlations · NXXT correlations
