NEXN vs TBN: Correlation
Nexxen International Ltd. (NEXN) and Tamboran Resources Corporation (TBN) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEXN and TBN?
On 3 years of weekly data the NEXN/TBN correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -715.9 %².
Among the 10 assets we track against NEXN, TBN sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with TBN ahead by 84.1 points (+2.6% versus +86.7%).
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.
NEXN vs TBN: side by side
| NEXN (Nexxen International Ltd.) | TBN (Tamboran Resources Corporation) | |
|---|---|---|
| 1-year return | +2.6% | +86.7% |
| 5-year return | -49.7% | n/a |
| Volatility (ann.) | 45.7% | 52.6% |
| Beta vs S&P 500 | 0.87 | -0.08 |
| Max drawdown (3Y) | -53.7% | -38.6% |
| Market cap | $0.6B | $1.3B |
| P/E (trailing) | 46.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEXN | TBN |
|---|---|---|
| 2022 | -57.4% | – |
| 2023 | -21.6% | – |
| 2024 | +98.0% | – |
| 2025 | -34.7% | +29.7% |
| 2026 | +54.7% | +38.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEXN and TBN good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NEXN and TBN?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.26 over the last year and n/a over 5 years.
Is TBN a good diversifier for NEXN?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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: NEXN correlations · TBN correlations
