LEU vs NXE: Correlation
Centrus Energy Corp. (LEU) and Nexgen Energy Ltd. (NXE) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEU and NXE?
On 3 years of weekly data the LEU/NXE correlation comes out at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 2453.4 %².
By 3-year correlation, NXE places #5 of the 14 assets tracked against LEU. Their recent paths diverged sharply: over the last 12 months NXE outperformed by 56.4 percentage points (-1.8% for LEU against +54.6% for NXE). One caveat on sizing: LEU is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LEU vs NXE: side by side
| LEU (Centrus Energy Corp.) | NXE (Nexgen Energy Ltd.) | |
|---|---|---|
| 1-year return | -1.8% | +54.6% |
| 5-year return | +636.7% | +144.9% |
| Volatility (ann.) | 84.8% | 50.8% |
| Beta vs S&P 500 | 1.67 | 1.48 |
| Max drawdown (3Y) | -66.4% | -54.3% |
| Market cap | $3.9B | $7.5B |
| P/E (trailing) | 98.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LEU | NXE |
|---|---|---|
| 2022 | -34.9% | +1.4% |
| 2023 | +67.5% | +58.0% |
| 2024 | +22.4% | -5.7% |
| 2025 | +264.4% | +39.4% |
| 2026 | -19.8% | +21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEU and NXE good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between LEU and NXE?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.56 over the last year and 0.55 over 5 years.
Is NXE a good diversifier for LEU?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 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/leu-vs-nxe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/leu-vs-nxe/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LEU correlations · NXE correlations
