IBIO vs NXL: Correlation
How closely do iBio, Inc. (IBIO) and Nexalin Technology, Inc. (NXL) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBIO and NXL?
On 3 years of weekly data the IBIO/NXL correlation comes out at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.49). The 5-year figure is 0.47, and annualized covariance runs at 17253.5 %².
By 3-year correlation, NXL places #4 of the 13 assets tracked against IBIO. The last year tells two different stories: IBIO led by 141.1 percentage points, +72.8% for IBIO against -68.3% for NXL.
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.
IBIO vs NXL: side by side
| IBIO (iBio, Inc.) | NXL (Nexalin Technology, Inc.) | |
|---|---|---|
| 1-year return | +72.8% | -68.3% |
| 5-year return | -99.8% | n/a |
| Volatility (ann.) | 196.4% | 178.5% |
| Beta vs S&P 500 | 1.36 | 1.55 |
| Max drawdown (3Y) | -92.9% | -94.2% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBIO | NXL |
|---|---|---|
| 2022 | -96.8% | – |
| 2023 | -84.4% | -45.9% |
| 2024 | +78.8% | +581.5% |
| 2025 | -21.2% | -79.8% |
| 2026 | -27.5% | -54.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBIO and NXL good diversifiers for each other?
Reasonably. At 0.49, IBIO and NXL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IBIO and NXL?
As of 2026-08-27, the correlation of weekly returns between IBIO and NXL is 0.49 over 3 years, 0.15 over 1 year and 0.47 over 5 years.
Is NXL a good diversifier for IBIO?
Reasonably. At 0.49, IBIO and NXL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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/ibio-vs-nxl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ibio-vs-nxl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IBIO correlations · NXL correlations
