NEXR vs SPY: Correlation
How closely do Nexera Technologies Ltd (NEXR) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEXR and SPY?
Over the past 3 years, NEXR and SPY moved with a correlation of 0.08, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.11) sits close to the 3-year figure. Over 5 years the correlation is 0.07, and the annualized covariance of weekly returns is 755.9 %².
Among the 22 assets we track against NEXR, SPY ranks #15 by 3-year correlation. The last year tells two different stories: SPY led by 120.3 percentage points, -99.7% for NEXR against +20.6% for SPY. One caveat on sizing: NEXR is 45.3 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.
NEXR vs SPY: side by side
| NEXR (Nexera Technologies Ltd) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -99.7% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 656.6% | 14.5% |
| Beta vs S&P 500 | 3.62 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | NEXR | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -62.4% | +26.2% |
| 2024 | -15.7% | +24.9% |
| 2025 | -98.1% | +17.7% |
| 2026 | -98.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEXR and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.08 means the two rarely move for the same reasons.
FAQ
What is the correlation between NEXR and SPY?
The NEXR/SPY correlation stands at 0.08 on a 3-year window (1 year: 0.11, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for NEXR?
By historical standards, yes. A correlation of 0.08 means the two rarely move for the same reasons.
What does a correlation of 0.08 mean?
A reading of 0.08 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NEXR correlations · SPY correlations
