NGEN vs SMX: Correlation
NervGen Pharma Corp. (NGEN) and SMX (Security Matters) Public Limited Company (SMX) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGEN and SMX?
Over the past 3 years, NGEN and SMX moved with a correlation of 0.26, which is weak. The past 12 months show a tighter link (0.43) than the 3-year average (0.26). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 18931.3 %².
Among the 16 assets we track against NGEN, SMX ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NGEN ahead by 93.1 points (-3.1% versus -96.2%). Note the risk asymmetry: SMX runs 10.3 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.
NGEN vs SMX: side by side
| NGEN (NervGen Pharma Corp.) | SMX (SMX (Security Matters) Public Limited Company) | |
|---|---|---|
| 1-year return | -3.1% | -96.2% |
| 5-year return | +44.1% | -100.0% |
| Volatility (ann.) | 84.7% | 869.6% |
| Beta vs S&P 500 | 0.57 | 6.86 |
| Max drawdown (3Y) | -73.4% | -100.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NGEN | SMX |
|---|---|---|
| 2022 | -44.1% | +3.5% |
| 2023 | +71.4% | -99.7% |
| 2024 | +6.9% | -98.9% |
| 2025 | +156.9% | -99.7% |
| 2026 | -58.3% | -90.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGEN and SMX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NGEN and SMX?
The NGEN/SMX correlation stands at 0.26 on a 3-year window (1 year: 0.43, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is SMX a good diversifier for NGEN?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ngen-vs-smx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ngen-vs-smx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NGEN correlations · SMX correlations
