NLOP vs PLX: Correlation
How closely do Net Lease Office Properties (NLOP) and Protalix BioTherapeutics, Inc. (DE) (PLX) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NLOP and PLX?
Over the past 3 years, NLOP and PLX moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.22 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -563.8 %².
By 3-year correlation, PLX places #11 of the 17 assets tracked against NLOP. Correlation aside, the last 12 months split them widely, with PLX ahead by 55.1 points (+8.0% versus +63.1%). Note the risk asymmetry: PLX runs 1.7 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.
NLOP vs PLX: side by side
| NLOP (Net Lease Office Properties) | PLX (Protalix BioTherapeutics, Inc. (DE)) | |
|---|---|---|
| 1-year return | +8.0% | +63.1% |
| 5-year return | n/a | +66.2% |
| Volatility (ann.) | 39.2% | 65.1% |
| Beta vs S&P 500 | 0.18 | 0.87 |
| Max drawdown (3Y) | -46.0% | -56.0% |
| Market cap | $0.2B | $0.2B |
| P/E (trailing) | – | 11.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NLOP | PLX |
|---|---|---|
| 2022 | – | +65.1% |
| 2023 | – | +29.9% |
| 2024 | +68.9% | +5.6% |
| 2025 | +5.9% | -4.3% |
| 2026 | +8.5% | +45.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NLOP and PLX good diversifiers for each other?
Yes. With a correlation of -0.22, NLOP and PLX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NLOP and PLX?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.03 over the last year and n/a over 5 years.
Is PLX a good diversifier for NLOP?
Yes. With a correlation of -0.22, NLOP and PLX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nlop-vs-plx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nlop-vs-plx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NLOP correlations · PLX correlations
