MLSS vs NXDR: Correlation
Measured on weekly returns over the past three years, Milestone Scientific, Inc. (MLSS) and Nextdoor Holdings, Inc. (NXDR) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLSS and NXDR?
Over the past 3 years, MLSS and NXDR moved with a correlation of 0.38, which is moderate. The link has tightened recently: the 1-year correlation (0.53) runs above the 3-year figure (0.38). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 1708.3 %².
NXDR is one of the assets that tracks MLSS most closely: it ranks #1 out of the 10 assets we track against MLSS. Their recent paths diverged sharply: over the last 12 months NXDR outperformed by 25.8 percentage points (-15.8% for MLSS against +10.0% for NXDR). Risk is not evenly split, since MLSS carries 1.6 times the volatility of the other side.
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.
MLSS vs NXDR: side by side
| MLSS (Milestone Scientific, Inc.) | NXDR (Nextdoor Holdings, Inc.) | |
|---|---|---|
| 1-year return | -15.8% | +10.0% |
| 5-year return | -72.6% | -82.2% |
| Volatility (ann.) | 84.1% | 54.0% |
| Beta vs S&P 500 | 0.81 | 1.65 |
| Max drawdown (3Y) | -81.2% | -53.6% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLSS | NXDR |
|---|---|---|
| 2022 | -76.7% | -73.9% |
| 2023 | +43.8% | -8.3% |
| 2024 | +39.1% | +25.4% |
| 2025 | -71.9% | -11.4% |
| 2026 | +87.0% | +10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLSS and NXDR good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MLSS and NXDR?
As of 2026-08-27, the correlation of weekly returns between MLSS and NXDR is 0.38 over 3 years, 0.53 over 1 year and 0.28 over 5 years.
Is NXDR a good diversifier for MLSS?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: MLSS correlations · NXDR correlations
