NNE vs UEC: Correlation
Measured on weekly returns over the past three years, Nano Nuclear Energy Inc. (NNE) and Uranium Energy Corp. (UEC) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNE and UEC?
On 3 years of weekly data the NNE/UEC correlation comes out at 0.49, moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.49 over 3. The 5-year figure is n/a, and annualized covariance runs at 5096.7 %².
Among the 18 assets we track against NNE, UEC ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months UEC outperformed by 72.8 percentage points (-41.5% for NNE against +31.3% for UEC). One caveat on sizing: NNE is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 UEC: side by side
| NNE (Nano Nuclear Energy Inc.) | UEC (Uranium Energy Corp.) | |
|---|---|---|
| 1-year return | -41.5% | +31.3% |
| 5-year return | n/a | +467.5% |
| Volatility (ann.) | 155.1% | 63.2% |
| Beta vs S&P 500 | 4.18 | 1.71 |
| Max drawdown (3Y) | -77.7% | -55.1% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNE | UEC |
|---|---|---|
| 2022 | – | +15.8% |
| 2023 | – | +64.9% |
| 2024 | – | +4.5% |
| 2025 | -3.6% | +74.6% |
| 2026 | -19.9% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNE and UEC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NNE and UEC?
As of 2026-08-27, the correlation of weekly returns between NNE and UEC is 0.49 over 3 years, 0.57 over 1 year and n/a over 5 years.
Is UEC a good diversifier for NNE?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/nne-vs-uec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nne-vs-uec/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NNE correlations · UEC correlations
