NTNX vs SMX: Correlation
How closely do Nutanix, Inc. (NTNX) and SMX (Security Matters) Public Limited Company (SMX) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTNX and SMX?
Over the past 3 years, NTNX and SMX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.21). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -8174.0 %².
Among the 16 assets we track against NTNX, SMX ranks #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NTNX ahead by 96.5 points (+0.3% versus -96.2%). One caveat on sizing: SMX is 19.1 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.
NTNX vs SMX: side by side
| NTNX (Nutanix, Inc.) | SMX (SMX (Security Matters) Public Limited Company) | |
|---|---|---|
| 1-year return | +0.3% | -96.2% |
| 5-year return | +90.4% | -100.0% |
| Volatility (ann.) | 45.6% | 869.6% |
| Beta vs S&P 500 | 1.28 | 6.86 |
| Max drawdown (3Y) | -58.6% | -100.0% |
| Market cap | $18.9B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTNX | SMX |
|---|---|---|
| 2022 | -18.2% | +3.5% |
| 2023 | +83.1% | -99.7% |
| 2024 | +28.3% | -98.9% |
| 2025 | -15.5% | -99.7% |
| 2026 | +35.1% | -90.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTNX and SMX good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between NTNX and SMX?
As of 2026-08-27, the correlation of weekly returns between NTNX and SMX is -0.21 over 3 years, -0.33 over 1 year and -0.15 over 5 years.
Is SMX a good diversifier for NTNX?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/ntnx-vs-smx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ntnx-vs-smx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NTNX correlations · SMX correlations
