GRSD vs NXGL: Correlation
Grandstand Limited (GRSD) and NexGel, Inc (NXGL) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRSD and NXGL?
Across a 3-year window, the weekly returns of GRSD and NXGL correlate at 0.36, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.50 versus 0.36 over 3 years. Stretching to 5 years gives 0.22, with an annualized covariance of 1505.9 %².
Within GRSD's tracked universe of 14 assets, NXGL comes in at #6 by 3-year correlation. The trailing year gives GRSD the advantage: -78.4% versus -85.0%, a 6.6-point spread. Note the risk asymmetry: NXGL runs 1.5 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.
GRSD vs NXGL: side by side
| GRSD (Grandstand Limited) | NXGL (NexGel, Inc) | |
|---|---|---|
| 1-year return | -78.4% | -85.0% |
| 5-year return | -85.5% | -90.1% |
| Volatility (ann.) | 53.1% | 79.8% |
| Beta vs S&P 500 | 0.92 | 1.14 |
| Max drawdown (3Y) | -90.1% | -93.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRSD | NXGL |
|---|---|---|
| 2022 | -9.9% | -52.1% |
| 2023 | +6.6% | +70.4% |
| 2024 | +44.4% | +109.4% |
| 2025 | -61.2% | -63.9% |
| 2026 | -66.1% | -78.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRSD and NXGL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GRSD and NXGL?
The GRSD/NXGL correlation stands at 0.36 on a 3-year window (1 year: 0.50, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is NXGL a good diversifier for GRSD?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/grsd-vs-nxgl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/grsd-vs-nxgl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRSD correlations · NXGL correlations
