NEXA vs SVM: Correlation
Nexa Resources S.A. (NEXA) and Silvercorp Metals Inc. (SVM) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEXA and SVM?
Over the past 3 years, NEXA and SVM moved with a correlation of 0.45, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.59 versus 0.45 over 3 years. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 1413.3 %².
SVM is one of the assets that tracks NEXA most closely: it ranks #3 out of the 10 assets we track against NEXA. On 12-month performance NEXA holds a 7.1-point edge, +195.0% against +187.9%.
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.
NEXA vs SVM: side by side
| NEXA (Nexa Resources S.A.) | SVM (Silvercorp Metals Inc.) | |
|---|---|---|
| 1-year return | +195.0% | +187.9% |
| 5-year return | +88.5% | +222.0% |
| Volatility (ann.) | 52.5% | 59.2% |
| Beta vs S&P 500 | 1.09 | 1.33 |
| Max drawdown (3Y) | -47.0% | -43.8% |
| Market cap | $1.8B | $3.0B |
| P/E (trailing) | 6.7 | 122.4 |
| Dividend yield | 0.00% | 0.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEXA | SVM |
|---|---|---|
| 2022 | -20.1% | -20.6% |
| 2023 | +22.1% | -10.3% |
| 2024 | +23.2% | +14.9% |
| 2025 | +2.7% | +178.8% |
| 2026 | +58.7% | +61.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEXA and SVM good diversifiers for each other?
Reasonably. At 0.45, NEXA and SVM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NEXA and SVM?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.59 over the last year and 0.42 over 5 years.
Is SVM a good diversifier for NEXA?
Reasonably. At 0.45, NEXA and SVM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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.
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Related comparisons
Hubs: NEXA correlations · SVM correlations
