CRNC vs NXTS: Correlation
How closely do Cerence Inc. (CRNC) and Nexentis Technologies Inc. (NXTS) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRNC and NXTS?
Across a 3-year window, the weekly returns of CRNC and NXTS correlate at 0.56, moderate. The link has loosened recently: the 1-year correlation (0.11) runs below the 3-year figure (0.56). Stretching to 5 years gives 0.53, with an annualized covariance of 43372.8 %².
Few assets follow CRNC as closely as NXTS, which ranks #3 of 21 tracked partners. The last year tells two different stories: CRNC led by 76.5 percentage points, -19.8% for CRNC against -96.3% for NXTS. One caveat on sizing: NXTS is 4.2 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.
CRNC vs NXTS: side by side
| CRNC (Cerence Inc.) | NXTS (Nexentis Technologies Inc.) | |
|---|---|---|
| 1-year return | -19.8% | -96.3% |
| 5-year return | -92.5% | -100.0% |
| Volatility (ann.) | 136.3% | 565.9% |
| Beta vs S&P 500 | 2.35 | 0.14 |
| Max drawdown (3Y) | -90.9% | -99.9% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | 0.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRNC | NXTS |
|---|---|---|
| 2022 | -75.8% | -81.2% |
| 2023 | +6.1% | -62.2% |
| 2024 | -60.1% | -87.6% |
| 2025 | +36.2% | -80.6% |
| 2026 | -21.3% | -83.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRNC and NXTS good diversifiers for each other?
Only partially. A correlation of 0.56 means CRNC and NXTS 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 CRNC and NXTS?
The CRNC/NXTS correlation stands at 0.56 on a 3-year window (1 year: 0.11, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is NXTS a good diversifier for CRNC?
Only partially. A correlation of 0.56 means CRNC and NXTS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/crnc-vs-nxts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crnc-vs-nxts/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRNC correlations · NXTS correlations
