CPA vs NYXH: Correlation
Measured on weekly returns over the past three years, Copa Holdings, S.A. (CPA) and Nyxoah SA (NYXH) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPA and NYXH?
On 3 years of weekly data the CPA/NYXH correlation comes out at 0.37, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. The 5-year figure is 0.25, and annualized covariance runs at 1079.1 %².
Among the 12 assets we track against CPA, NYXH ranks #7 by 3-year correlation. The last year tells two different stories: CPA led by 92.4 percentage points, +17.8% for CPA against -74.6% for NYXH. One caveat on sizing: NYXH is 3.4 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.
CPA vs NYXH: side by side
| CPA (Copa Holdings, S.A.) | NYXH (Nyxoah SA) | |
|---|---|---|
| 1-year return | +17.8% | -74.6% |
| 5-year return | +112.6% | -94.7% |
| Volatility (ann.) | 29.3% | 98.9% |
| Beta vs S&P 500 | 0.83 | 1.24 |
| Max drawdown (3Y) | -29.2% | -93.3% |
| Market cap | $5.4B | $0.2B |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 5.01% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPA | NYXH |
|---|---|---|
| 2022 | +0.6% | -78.3% |
| 2023 | +32.4% | -7.0% |
| 2024 | -11.5% | +72.4% |
| 2025 | +45.6% | -42.5% |
| 2026 | +11.5% | -65.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPA and NYXH good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CPA and NYXH?
The CPA/NYXH correlation stands at 0.37 on a 3-year window (1 year: 0.41, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is NYXH a good diversifier for CPA?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 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/cpa-vs-nyxh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cpa-vs-nyxh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPA correlations · NYXH correlations
