LAR vs NEXA: Correlation
Lithium Argentina AG (LAR) and Nexa Resources S.A. (NEXA) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAR and NEXA?
On 3 years of weekly data the LAR/NEXA correlation comes out at 0.46, moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.46). The 5-year figure is 0.37, and annualized covariance runs at 1616.5 %².
By 3-year correlation, NEXA places #8 of the 16 assets tracked against LAR. Their recent paths diverged sharply: over the last 12 months NEXA outperformed by 81.1 percentage points (+113.9% for LAR against +195.0% for NEXA).
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.
LAR vs NEXA: side by side
| LAR (Lithium Argentina AG) | NEXA (Nexa Resources S.A.) | |
|---|---|---|
| 1-year return | +113.9% | +195.0% |
| 5-year return | -12.4% | +88.5% |
| Volatility (ann.) | 67.6% | 52.5% |
| Beta vs S&P 500 | 1.61 | 1.09 |
| Max drawdown (3Y) | -79.6% | -47.0% |
| Market cap | $1.1B | $1.8B |
| P/E (trailing) | – | 6.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LAR | NEXA |
|---|---|---|
| 2022 | -34.9% | -20.1% |
| 2023 | -17.2% | +22.1% |
| 2024 | -58.5% | +23.2% |
| 2025 | +113.0% | +2.7% |
| 2026 | +23.8% | +58.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAR and NEXA good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LAR and NEXA?
The LAR/NEXA correlation stands at 0.46 on a 3-year window (1 year: 0.58, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is NEXA a good diversifier for LAR?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/lar-vs-nexa.json
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Related comparisons
Hubs: LAR correlations · NEXA correlations
