NNOX vs UPC: Correlation
Measured on weekly returns over the past three years, NANO-X IMAGING LTD (NNOX) and Universe Pharmaceuticals Inc - Class A (UPC) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNOX and UPC?
Across a 3-year window, the weekly returns of NNOX and UPC correlate at 0.32, moderate. The relationship has been stable: the 1-year correlation (0.28) sits close to the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 6430.3 %².
Among the 21 assets we track against NNOX, UPC ranks #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months UPC outperformed by 115.6 percentage points (-78.6% for NNOX against +37.0% for UPC). Risk is not evenly split, since UPC carries 1.8 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.
NNOX vs UPC: side by side
| NNOX (NANO-X IMAGING LTD) | UPC (Universe Pharmaceuticals Inc - Class A) | |
|---|---|---|
| 1-year return | -78.6% | +37.0% |
| 5-year return | -96.5% | -99.9% |
| Volatility (ann.) | 106.8% | 187.7% |
| Beta vs S&P 500 | 1.70 | 2.00 |
| Max drawdown (3Y) | -93.5% | -99.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNOX | UPC |
|---|---|---|
| 2022 | -49.2% | -11.3% |
| 2023 | -13.7% | -76.9% |
| 2024 | +13.0% | -98.0% |
| 2025 | -61.1% | -84.4% |
| 2026 | -69.9% | +32.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNOX and UPC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NNOX and UPC?
The NNOX/UPC correlation stands at 0.32 on a 3-year window (1 year: 0.28, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is UPC a good diversifier for NNOX?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 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/nnox-vs-upc.json
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[](https://www.pairbook.io/pair/nnox-vs-upc/)
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Related comparisons
Hubs: NNOX correlations · UPC correlations
