NU vs XP: Correlation
How closely do Nu Holdings Ltd. Class A (NU) and XP Inc. (XP) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NU and XP?
Over the past 3 years, NU and XP moved with a correlation of 0.52, which is moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 837.4 %².
XP is one of the assets that tracks NU most closely: it ranks #2 out of the 10 assets we track against NU. Neither side won the trailing year by much: +1.6% against +5.8%.
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.
NU vs XP: side by side
| NU (Nu Holdings Ltd. Class A) | XP (XP Inc.) | |
|---|---|---|
| 1-year return | +1.6% | +5.8% |
| 5-year return | +44.0% | -58.9% |
| Volatility (ann.) | 39.4% | 41.0% |
| Beta vs S&P 500 | 1.26 | 1.18 |
| Max drawdown (3Y) | -39.6% | -56.6% |
| Market cap | $71.9B | $9.0B |
| P/E (trailing) | 20.7 | 9.0 |
| Dividend yield | 0.00% | 11.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NU | XP |
|---|---|---|
| 2022 | -56.6% | -46.6% |
| 2023 | +104.7% | +79.6% |
| 2024 | +24.4% | -52.2% |
| 2025 | +61.6% | +39.5% |
| 2026 | -11.1% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NU and XP good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NU and XP?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.60 over the last year and 0.47 over 5 years.
Is XP a good diversifier for NU?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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/nu-vs-xp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nu-vs-xp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NU correlations · XP correlations
