HSDT vs NUE: Correlation
How closely do Solana Company (HSDT) and Nucor (NUE) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSDT and NUE?
On 3 years of weekly data the HSDT/NUE correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. The 5-year figure is -0.02, and annualized covariance runs at -970.5 %².
By 3-year correlation, NUE places #11 of the 17 assets tracked against HSDT. The last year tells two different stories: NUE led by 130.8 percentage points, -60.7% for HSDT against +70.1% for NUE. Note the risk asymmetry: HSDT 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.
HSDT vs NUE: side by side
| HSDT (Solana Company) | NUE (Nucor) | |
|---|---|---|
| 1-year return | -60.7% | +70.1% |
| 5-year return | -100.0% | +124.6% |
| Volatility (ann.) | 177.7% | 33.3% |
| Beta vs S&P 500 | 0.34 | 1.08 |
| Max drawdown (3Y) | -100.0% | -47.8% |
| Market cap | $0.1B | $57.3B |
| P/E (trailing) | 0.0 | 20.1 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | HSDT | NUE |
|---|---|---|
| 2022 | -94.1% | +17.4% |
| 2023 | -47.6% | +33.8% |
| 2024 | -91.7% | -32.0% |
| 2025 | -99.4% | +42.0% |
| 2026 | -15.9% | +55.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSDT and NUE good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HSDT and NUE?
As of 2026-08-27, the correlation of weekly returns between HSDT and NUE is -0.16 over 3 years, -0.24 over 1 year and -0.02 over 5 years.
Is NUE a good diversifier for HSDT?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 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/hsdt-vs-nue.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hsdt-vs-nue/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HSDT correlations · NUE correlations
