INM vs NXXT: Correlation
Measured on weekly returns over the past three years, InMed Pharmaceuticals Inc. (INM) and NextNRG, Inc. (NXXT) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INM and NXXT?
Across a 3-year window, the weekly returns of INM and NXXT correlate at 0.53, moderate. The link has tightened recently: the 1-year correlation (0.90) runs above the 3-year figure (0.53). Stretching to 5 years gives 0.44, with an annualized covariance of 14208.9 %².
By 3-year correlation, NXXT places #4 of the 18 assets tracked against INM. Correlation aside, the last 12 months split them widely, with INM ahead by 50.2 points (-36.4% versus -86.6%).
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.
INM vs NXXT: side by side
| INM (InMed Pharmaceuticals Inc.) | NXXT (NextNRG, Inc.) | |
|---|---|---|
| 1-year return | -36.4% | -86.6% |
| 5-year return | -99.9% | -99.7% |
| Volatility (ann.) | 169.8% | 157.3% |
| Beta vs S&P 500 | 2.62 | 1.37 |
| Max drawdown (3Y) | -96.9% | -97.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INM | NXXT |
|---|---|---|
| 2022 | -93.8% | -79.6% |
| 2023 | -79.4% | -27.8% |
| 2024 | -43.0% | -23.6% |
| 2025 | -77.6% | -53.2% |
| 2026 | +34.9% | -83.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INM and NXXT good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between INM and NXXT?
As of 2026-08-27, the correlation of weekly returns between INM and NXXT is 0.53 over 3 years, 0.90 over 1 year and 0.44 over 5 years.
Is NXXT a good diversifier for INM?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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/inm-vs-nxxt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/inm-vs-nxxt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INM correlations · NXXT correlations
