NLOP vs XRTX: Correlation
Net Lease Office Properties (NLOP) and XORTX Therapeutics Inc. (XRTX) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NLOP and XRTX?
Across a 3-year window, the weekly returns of NLOP and XRTX correlate at -0.29, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.01) runs above the 3-year figure (-0.29). Stretching to 5 years gives n/a, with an annualized covariance of -1179.8 %².
Out of 17 assets tracked against NLOP, XRTX lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with NLOP ahead by 46.4 points (+8.0% versus -38.4%). Risk is not evenly split, since XRTX carries 3.3 times the volatility of the other side.
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 XRTX: side by side
| NLOP (Net Lease Office Properties) | XRTX (XORTX Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +8.0% | -38.4% |
| 5-year return | n/a | -99.9% |
| Volatility (ann.) | 39.2% | 129.2% |
| Beta vs S&P 500 | 0.18 | 0.23 |
| Max drawdown (3Y) | -46.0% | -99.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NLOP | XRTX |
|---|---|---|
| 2022 | – | -60.6% |
| 2023 | – | -96.5% |
| 2024 | +68.9% | -51.1% |
| 2025 | +5.9% | -50.3% |
| 2026 | +8.5% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NLOP and XRTX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NLOP and XRTX?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with 0.01 over the last year and n/a over 5 years.
Is XRTX a good diversifier for NLOP?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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-xrtx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nlop-vs-xrtx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NLOP correlations · XRTX correlations
