NAKA vs URGN: Correlation
Measured on weekly returns over the past three years, Nakamoto Inc. (NAKA) and UroGen Pharma Ltd. (URGN) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAKA and URGN?
Over the past 3 years, NAKA and URGN moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.04) runs above the 3-year figure (-0.27). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -6057.5 %².
URGN is close to the least connected end of NAKA's tracked universe, ranking #17 of 17. Correlation aside, the last 12 months split them widely, with URGN ahead by 229.8 points (-96.9% versus +132.9%). Note the risk asymmetry: NAKA runs 2.6 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.
NAKA vs URGN: side by side
| NAKA (Nakamoto Inc.) | URGN (UroGen Pharma Ltd.) | |
|---|---|---|
| 1-year return | -96.9% | +132.9% |
| 5-year return | n/a | +157.5% |
| Volatility (ann.) | 231.2% | 88.1% |
| Beta vs S&P 500 | 4.09 | 1.29 |
| Max drawdown (3Y) | -99.7% | -79.7% |
| Market cap | $0.1B | $2.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAKA | URGN |
|---|---|---|
| 2022 | – | -6.7% |
| 2023 | – | +69.1% |
| 2024 | – | -29.0% |
| 2025 | -71.7% | +119.9% |
| 2026 | -44.9% | +94.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAKA and URGN good diversifiers for each other?
Yes. With a correlation of -0.27, NAKA and URGN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NAKA and URGN?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.04 over the last year and n/a over 5 years.
Is URGN a good diversifier for NAKA?
Yes. With a correlation of -0.27, NAKA and URGN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/naka-vs-urgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/naka-vs-urgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NAKA correlations · URGN correlations
