NN vs TSLA: Correlation
NextNav Inc. (NN) and Tesla, Inc. (TSLA) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NN and TSLA?
Over the past 3 years, NN and TSLA moved with a correlation of 0.39, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.39 over 3. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 1564.6 %².
By 3-year correlation, TSLA places #5 of the 10 assets tracked against NN. Over the last 12 months TSLA came out ahead by 13.2 percentage points (-11.7% against +1.5%).
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.
NN vs TSLA: side by side
| NN (NextNav Inc.) | TSLA (Tesla, Inc.) | |
|---|---|---|
| 1-year return | -11.7% | +1.5% |
| 5-year return | +56.5% | +45.6% |
| Volatility (ann.) | 75.3% | 53.9% |
| Beta vs S&P 500 | 1.45 | 1.87 |
| Max drawdown (3Y) | -47.8% | -53.8% |
| Market cap | $2.7B | $1,401.3B |
| P/E (trailing) | – | 322.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | NN | TSLA |
|---|---|---|
| 2022 | -66.6% | -65.0% |
| 2023 | +51.9% | +101.7% |
| 2024 | +249.7% | +62.5% |
| 2025 | +6.9% | +11.4% |
| 2026 | -5.6% | -21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NN and TSLA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NN and TSLA?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.46 over the last year and 0.27 over 5 years.
Is TSLA a good diversifier for NN?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nn-vs-tsla.json
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Related comparisons
Hubs: NN correlations · TSLA correlations
