GRCE vs NNOX: Correlation
Measured on weekly returns over the past three years, Grace Therapeutics, Inc. (GRCE) and NANO-X IMAGING LTD (NNOX) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRCE and NNOX?
Across a 3-year window, the weekly returns of GRCE and NNOX correlate at 0.39, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.39 over 3. Stretching to 5 years gives 0.28, with an annualized covariance of 3260.0 %².
Within GRCE's tracked universe of 10 assets, NNOX comes in at #5 by 3-year correlation. The last year tells two different stories: GRCE led by 49.0 percentage points, -29.6% for GRCE against -78.6% for NNOX.
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.
GRCE vs NNOX: side by side
| GRCE (Grace Therapeutics, Inc.) | NNOX (NANO-X IMAGING LTD) | |
|---|---|---|
| 1-year return | -29.6% | -78.6% |
| 5-year return | -88.8% | -96.5% |
| Volatility (ann.) | 78.2% | 106.8% |
| Beta vs S&P 500 | 0.95 | 1.70 |
| Max drawdown (3Y) | -60.0% | -93.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRCE | NNOX |
|---|---|---|
| 2022 | -60.3% | -49.2% |
| 2023 | -3.7% | -13.7% |
| 2024 | +29.4% | +13.0% |
| 2025 | -7.5% | -61.1% |
| 2026 | -37.6% | -69.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRCE and NNOX good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GRCE and NNOX?
The GRCE/NNOX correlation stands at 0.39 on a 3-year window (1 year: 0.41, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is NNOX a good diversifier for GRCE?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 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/grce-vs-nnox.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grce-vs-nnox/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRCE correlations · NNOX correlations
