NNE vs SMMT: Correlation
How closely do Nano Nuclear Energy Inc. (NNE) and Summit Therapeutics Inc. (SMMT) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNE and SMMT?
On 3 years of weekly data the NNE/SMMT correlation comes out at 0.59, moderate. The link has loosened recently: the 1-year correlation (0.34) runs below the 3-year figure (0.59). The 5-year figure is n/a, and annualized covariance runs at 15286.7 %².
Few assets follow NNE as closely as SMMT, which ranks #2 of 18 tracked partners. Twelve-month performance is nearly a tie, at -41.5% for NNE and -42.2% for SMMT.
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.
NNE vs SMMT: side by side
| NNE (Nano Nuclear Energy Inc.) | SMMT (Summit Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -41.5% | -42.2% |
| 5-year return | n/a | +78.5% |
| Volatility (ann.) | 155.1% | 150.4% |
| Beta vs S&P 500 | 4.18 | 2.43 |
| Max drawdown (3Y) | -77.7% | -66.1% |
| Market cap | $1.0B | $11.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNE | SMMT |
|---|---|---|
| 2022 | – | +58.0% |
| 2023 | – | -38.6% |
| 2024 | – | +583.7% |
| 2025 | -3.6% | -2.0% |
| 2026 | -19.9% | -18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNE and SMMT good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NNE and SMMT?
The NNE/SMMT correlation stands at 0.59 on a 3-year window (1 year: 0.34, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SMMT a good diversifier for NNE?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 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.
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Related comparisons
Hubs: NNE correlations · SMMT correlations
