IBM vs NXTC: Correlation
How closely do IBM (IBM) and NextCure, Inc. (NXTC) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBM and NXTC?
Over the past 3 years, IBM and NXTC moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.48) runs below the 3-year figure (-0.35). Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -1948.7 %².
NXTC is close to the least connected end of IBM's tracked universe, ranking #27 of 28. Their recent paths diverged sharply: over the last 12 months NXTC outperformed by 15.2 percentage points (+0.1% for IBM against +15.3% for NXTC). Risk is not evenly split, since NXTC carries 4.6 times the volatility of the other side.
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.
IBM vs NXTC: side by side
| IBM (IBM) | NXTC (NextCure, Inc.) | |
|---|---|---|
| 1-year return | +0.1% | +15.3% |
| 5-year return | +117.6% | -93.2% |
| Volatility (ann.) | 34.7% | 160.1% |
| Beta vs S&P 500 | 0.78 | 1.18 |
| Max drawdown (3Y) | -37.5% | -94.6% |
| Market cap | $225.0B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 2.93% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | IBM | NXTC |
|---|---|---|
| 2022 | +10.6% | -76.5% |
| 2023 | +21.8% | -19.1% |
| 2024 | +39.3% | -32.4% |
| 2025 | +38.2% | +53.4% |
| 2026 | -17.7% | -57.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBM and NXTC good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between IBM and NXTC?
As of 2026-08-27, the correlation of weekly returns between IBM and NXTC is -0.35 over 3 years, -0.48 over 1 year and -0.28 over 5 years.
Is NXTC a good diversifier for IBM?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 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
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Related comparisons
Hubs: IBM correlations · NXTC correlations
