KMX vs NUAI: Correlation
Measured on weekly returns over the past three years, CarMax Inc (KMX) and New Era Energy & Digital, Inc. (NUAI) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KMX and NUAI?
On 3 years of weekly data the KMX/NUAI correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.28). The 5-year figure is -0.22, and annualized covariance runs at -2079.2 %².
Out of 11 assets tracked against KMX, NUAI lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with NUAI ahead by 925.1 points (+0.9% versus +926.0%). Note the risk asymmetry: NUAI runs 4.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
KMX vs NUAI: side by side
| KMX (CarMax Inc) | NUAI (New Era Energy & Digital, Inc.) | |
|---|---|---|
| 1-year return | +0.9% | +926.0% |
| 5-year return | -50.5% | -47.8% |
| Volatility (ann.) | 41.9% | 179.9% |
| Beta vs S&P 500 | 0.94 | 1.47 |
| Max drawdown (3Y) | -65.4% | -97.2% |
| Market cap | – | $0.5B |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KMX | NUAI |
|---|---|---|
| 2022 | -53.2% | – |
| 2023 | +26.0% | +5.1% |
| 2024 | +6.5% | -43.6% |
| 2025 | -52.7% | -51.2% |
| 2026 | +62.1% | +75.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KMX and NUAI good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KMX and NUAI?
The KMX/NUAI correlation stands at -0.28 on a 3-year window (1 year: -0.40, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is NUAI a good diversifier for KMX?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 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/kmx-vs-nuai.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kmx-vs-nuai/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KMX correlations · NUAI correlations
