ERIE vs NXTC: Correlation
How closely do Erie Indemnity (ERIE) and NextCure, Inc. (NXTC) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERIE and NXTC?
Across a 3-year window, the weekly returns of ERIE and NXTC correlate at -0.18, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.32) runs below the 3-year figure (-0.18). Stretching to 5 years gives -0.12, with an annualized covariance of -888.1 %².
Among the 33 assets we track against ERIE, NXTC ranks #25 by 3-year correlation. The last year tells two different stories: NXTC led by 39.8 percentage points, -24.5% for ERIE against +15.3% for NXTC. Note the risk asymmetry: NXTC runs 5.3 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.
ERIE vs NXTC: side by side
| ERIE (Erie Indemnity) | NXTC (NextCure, Inc.) | |
|---|---|---|
| 1-year return | -24.5% | +15.3% |
| 5-year return | +61.3% | -93.2% |
| Volatility (ann.) | 30.3% | 160.1% |
| Beta vs S&P 500 | 0.37 | 1.18 |
| Max drawdown (3Y) | -60.9% | -94.6% |
| Market cap | $13.6B | – |
| P/E (trailing) | 23.4 | – |
| Dividend yield | 2.24% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ERIE | NXTC |
|---|---|---|
| 2022 | +32.0% | -76.5% |
| 2023 | +37.3% | -19.1% |
| 2024 | +24.7% | -32.4% |
| 2025 | -29.4% | +53.4% |
| 2026 | -8.0% | -57.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERIE and NXTC good diversifiers for each other?
Yes. With a correlation of -0.18, ERIE and NXTC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ERIE and NXTC?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.32 over the last year and -0.12 over 5 years.
Is NXTC a good diversifier for ERIE?
Yes. With a correlation of -0.18, ERIE and NXTC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/erie-vs-nxtc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/erie-vs-nxtc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERIE correlations · NXTC correlations
