NNOX vs VGAS: Correlation
Measured on weekly returns over the past three years, NANO-X IMAGING LTD (NNOX) and Verde Clean Fuels, Inc. (VGAS) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNOX and VGAS?
On 3 years of weekly data the NNOX/VGAS correlation comes out at 0.50, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.50 over 3 years. The 5-year figure is 0.30, and annualized covariance runs at 5044.6 %².
Within NNOX's tracked universe of 21 assets, VGAS comes in at #6 by 3-year correlation. The last year tells two different stories: VGAS led by 24.1 percentage points, -78.6% for NNOX against -54.5% for VGAS.
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 VGAS: side by side
| NNOX (NANO-X IMAGING LTD) | VGAS (Verde Clean Fuels, Inc.) | |
|---|---|---|
| 1-year return | -78.6% | -54.5% |
| 5-year return | -96.5% | -86.2% |
| Volatility (ann.) | 106.8% | 94.3% |
| Beta vs S&P 500 | 1.70 | 0.91 |
| Max drawdown (3Y) | -93.5% | -82.3% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNOX | VGAS |
|---|---|---|
| 2022 | -49.2% | -8.2% |
| 2023 | -13.7% | -74.1% |
| 2024 | +13.0% | +72.2% |
| 2025 | -61.1% | -49.3% |
| 2026 | -69.9% | -34.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNOX and VGAS good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NNOX and VGAS?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.24 over the last year and 0.30 over 5 years.
Is VGAS a good diversifier for NNOX?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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-vgas.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nnox-vs-vgas/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NNOX correlations · VGAS correlations
