KEN vs NYAX: Correlation
Kenon Holdings Ltd. (KEN) and Nayax Ltd. (NYAX) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEN and NYAX?
Across a 3-year window, the weekly returns of KEN and NYAX correlate at 0.36, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.36 over 3. Stretching to 5 years gives 0.38, with an annualized covariance of 655.1 %².
Among the 11 assets we track against KEN, NYAX ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months KEN outperformed by 49.6 percentage points (+59.0% for KEN against +9.4% for NYAX).
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.
KEN vs NYAX: side by side
| KEN (Kenon Holdings Ltd.) | NYAX (Nayax Ltd.) | |
|---|---|---|
| 1-year return | +59.0% | +9.4% |
| 5-year return | +294.3% | n/a |
| Volatility (ann.) | 37.7% | 48.8% |
| Beta vs S&P 500 | 0.72 | 0.48 |
| Max drawdown (3Y) | -33.2% | -39.1% |
| Market cap | – | $2.0B |
| P/E (trailing) | 43.0 | 261.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KEN | NYAX |
|---|---|---|
| 2022 | -11.7% | – |
| 2023 | -18.2% | -3.3% |
| 2024 | +67.6% | +53.1% |
| 2025 | +126.2% | +73.5% |
| 2026 | +8.6% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEN and NYAX good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KEN and NYAX?
The KEN/NYAX correlation stands at 0.36 on a 3-year window (1 year: 0.43, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is NYAX a good diversifier for KEN?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 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/ken-vs-nyax.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KEN correlations · NYAX correlations
