NX vs TAP: Correlation
Quanex Building Products Corporation (NX) and Molson Coors Beverage Company (TAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NX and TAP?
Across a 3-year window, the weekly returns of NX and TAP correlate at 0.46, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.46 over 3. Stretching to 5 years gives 0.42, with an annualized covariance of 549.8 %².
By 3-year correlation, TAP places #7 of the 13 assets tracked against NX. Over the last 12 months NX came out ahead by 6.6 percentage points (-8.4% against -15.0%). Risk is not evenly split, since NX carries 2.1 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.
NX vs TAP: side by side
| NX (Quanex Building Products Corporation) | TAP (Molson Coors Beverage Company) | |
|---|---|---|
| 1-year return | -8.4% | -15.0% |
| 5-year return | -10.0% | +3.9% |
| Volatility (ann.) | 49.4% | 23.9% |
| Beta vs S&P 500 | 1.11 | 0.15 |
| Max drawdown (3Y) | -70.4% | -38.8% |
| Market cap | $0.9B | $7.8B |
| P/E (trailing) | – | – |
| Dividend yield | 1.61% | 4.51% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | NX | TAP |
|---|---|---|
| 2022 | -3.1% | +14.4% |
| 2023 | +30.7% | +22.2% |
| 2024 | -19.9% | -3.4% |
| 2025 | -35.4% | -15.5% |
| 2026 | +29.2% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NX and TAP good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NX and TAP?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.50 over the last year and 0.42 over 5 years.
Is TAP a good diversifier for NX?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/nx-vs-tap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nx-vs-tap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NX correlations · TAP correlations
