HTOO vs NNOX: Correlation
Fusion Fuel Green PLC (HTOO) and NANO-X IMAGING LTD (NNOX) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTOO and NNOX?
Across a 3-year window, the weekly returns of HTOO and NNOX correlate at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.03 versus 0.43 over 3 years. Stretching to 5 years gives 0.30, with an annualized covariance of 5772.6 %².
NNOX is one of the assets that tracks HTOO most closely: it ranks #3 out of the 11 assets we track against HTOO. Correlation aside, the last 12 months split them widely, with HTOO ahead by 28.4 points (-50.2% versus -78.6%).
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.
HTOO vs NNOX: side by side
| HTOO (Fusion Fuel Green PLC) | NNOX (NANO-X IMAGING LTD) | |
|---|---|---|
| 1-year return | -50.2% | -78.6% |
| 5-year return | -99.5% | -96.5% |
| Volatility (ann.) | 126.6% | 106.8% |
| Beta vs S&P 500 | 0.90 | 1.70 |
| Max drawdown (3Y) | -97.7% | -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 | HTOO | NNOX |
|---|---|---|
| 2022 | -46.5% | -49.2% |
| 2023 | -74.7% | -13.7% |
| 2024 | -49.7% | +13.0% |
| 2025 | -83.1% | -61.1% |
| 2026 | -39.6% | -69.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTOO and NNOX good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HTOO and NNOX?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with -0.03 over the last year and 0.30 over 5 years.
Is NNOX a good diversifier for HTOO?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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/htoo-vs-nnox.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/htoo-vs-nnox/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HTOO correlations · NNOX correlations
