NNI vs TRAW: Correlation
Measured on weekly returns over the past three years, Nelnet, Inc. (NNI) and Traws Pharma, Inc. (TRAW) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNI and TRAW?
On 3 years of weekly data the NNI/TRAW correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.55 versus -0.18 over 3 years. The 5-year figure is -0.05, and annualized covariance runs at -557.4 %².
Out of 17 assets tracked against NNI, TRAW lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months NNI outperformed by 58.6 percentage points (-0.2% for NNI against -58.8% for TRAW). Note the risk asymmetry: TRAW runs 6.3 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.
NNI vs TRAW: side by side
| NNI (Nelnet, Inc.) | TRAW (Traws Pharma, Inc.) | |
|---|---|---|
| 1-year return | -0.2% | -58.8% |
| 5-year return | +67.8% | -99.5% |
| Volatility (ann.) | 22.0% | 138.3% |
| Beta vs S&P 500 | 0.59 | 0.67 |
| Max drawdown (3Y) | -18.5% | -98.3% |
| Market cap | $4.6B | – |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 1.01% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNI | TRAW |
|---|---|---|
| 2022 | -6.0% | -74.5% |
| 2023 | -1.6% | +15.4% |
| 2024 | +22.4% | -52.6% |
| 2025 | +25.7% | -87.3% |
| 2026 | -3.7% | -48.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNI and TRAW good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NNI and TRAW?
As of 2026-08-27, the correlation of weekly returns between NNI and TRAW is -0.18 over 3 years, -0.55 over 1 year and -0.05 over 5 years.
Is TRAW a good diversifier for NNI?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
A reading of -0.18 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nni-vs-traw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nni-vs-traw/)
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Related comparisons
Hubs: NNI correlations · TRAW correlations
