NEXM vs SII: Correlation
How closely do NexMetals Mining Corp. (NEXM) and Sprott Inc. (SII) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEXM and SII?
Across a 3-year window, the weekly returns of NEXM and SII correlate at 0.37, moderate. The link has tightened recently: the 1-year correlation (0.61) runs above the 3-year figure (0.37). Stretching to 5 years gives 0.27, with an annualized covariance of 1019.9 %².
SII is one of the assets that tracks NEXM most closely: it ranks #2 out of the 11 assets we track against NEXM. The last year tells two different stories: SII led by 166.1 percentage points, -53.8% for NEXM against +112.3% for SII. One caveat on sizing: NEXM is 2.0 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.
NEXM vs SII: side by side
| NEXM (NexMetals Mining Corp.) | SII (Sprott Inc.) | |
|---|---|---|
| 1-year return | -53.8% | +112.3% |
| 5-year return | -87.5% | +354.0% |
| Volatility (ann.) | 73.4% | 37.3% |
| Beta vs S&P 500 | 1.07 | 0.92 |
| Max drawdown (3Y) | -92.1% | -38.0% |
| Market cap | $0.1B | $3.5B |
| P/E (trailing) | – | 33.6 |
| Dividend yield | 0.00% | 1.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEXM | SII |
|---|---|---|
| 2022 | -29.6% | -24.1% |
| 2023 | -22.1% | +5.0% |
| 2024 | -67.8% | +27.4% |
| 2025 | -34.8% | +135.0% |
| 2026 | -36.2% | +40.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEXM and SII good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NEXM and SII?
As of 2026-08-27, the correlation of weekly returns between NEXM and SII is 0.37 over 3 years, 0.61 over 1 year and 0.27 over 5 years.
Is SII a good diversifier for NEXM?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 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/nexm-vs-sii.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nexm-vs-sii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NEXM correlations · SII correlations
