HLP vs NXXT: Correlation
How closely do Hongli Group Inc. - Class A (HLP) and NextNRG, Inc. (NXXT) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLP and NXXT?
Across a 3-year window, the weekly returns of HLP and NXXT correlate at -0.23, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.40) runs below the 3-year figure (-0.23). Stretching to 5 years gives n/a, with an annualized covariance of -4686.5 %².
NXXT is close to the least connected end of HLP's tracked universe, ranking #12 of 15. Their recent paths diverged sharply: over the last 12 months HLP outperformed by 176.3 percentage points (+89.7% for HLP against -86.6% for NXXT).
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.
HLP vs NXXT: side by side
| HLP (Hongli Group Inc. - Class A) | NXXT (NextNRG, Inc.) | |
|---|---|---|
| 1-year return | +89.7% | -86.6% |
| 5-year return | n/a | -99.7% |
| Volatility (ann.) | 127.2% | 157.3% |
| Beta vs S&P 500 | 0.02 | 1.37 |
| Max drawdown (3Y) | -91.9% | -97.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 43.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLP | NXXT |
|---|---|---|
| 2022 | – | -79.6% |
| 2023 | – | -27.8% |
| 2024 | -22.0% | -23.6% |
| 2025 | -20.6% | -53.2% |
| 2026 | +24.0% | -83.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLP and NXXT good diversifiers for each other?
Yes. With a correlation of -0.23, HLP and NXXT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HLP and NXXT?
As of 2026-08-27, the correlation of weekly returns between HLP and NXXT is -0.23 over 3 years, -0.40 over 1 year and n/a over 5 years.
Is NXXT a good diversifier for HLP?
Yes. With a correlation of -0.23, HLP and NXXT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/hlp-vs-nxxt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hlp-vs-nxxt/)
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Related comparisons
Hubs: HLP correlations · NXXT correlations
