GXAI vs NNOX: Correlation
How closely do Gaxos.ai Inc. (GXAI) and NANO-X IMAGING LTD (NNOX) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GXAI and NNOX?
Across a 3-year window, the weekly returns of GXAI and NNOX correlate at 0.55, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.08 versus 0.55 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 11167.6 %².
In GXAI's tracked universe of 19 assets, NNOX sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months GXAI outperformed by 19.0 percentage points (-59.6% for GXAI against -78.6% for NNOX). Note the risk asymmetry: GXAI runs 1.8 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.
GXAI vs NNOX: side by side
| GXAI (Gaxos.ai Inc.) | NNOX (NANO-X IMAGING LTD) | |
|---|---|---|
| 1-year return | -59.6% | -78.6% |
| 5-year return | n/a | -96.5% |
| Volatility (ann.) | 191.3% | 106.8% |
| Beta vs S&P 500 | 0.51 | 1.70 |
| Max drawdown (3Y) | -93.5% | -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 | GXAI | NNOX |
|---|---|---|
| 2022 | – | -49.2% |
| 2023 | – | -13.7% |
| 2024 | -37.0% | +13.0% |
| 2025 | -58.4% | -61.1% |
| 2026 | -24.1% | -69.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GXAI and NNOX good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GXAI and NNOX?
As of 2026-08-27, the correlation of weekly returns between GXAI and NNOX is 0.55 over 3 years, 0.08 over 1 year and n/a over 5 years.
Is NNOX a good diversifier for GXAI?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gxai-vs-nnox.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gxai-vs-nnox/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GXAI correlations · NNOX correlations
