NXE vs OKLO: Correlation
Measured on weekly returns over the past three years, Nexgen Energy Ltd. (NXE) and Oklo Inc. (OKLO) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXE and OKLO?
Across a 3-year window, the weekly returns of NXE and OKLO correlate at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 3022.8 %².
By 3-year correlation, OKLO places #12 of the 17 assets tracked against NXE. Correlation aside, the last 12 months split them widely, with NXE ahead by 96.5 points (+54.6% versus -41.9%). Risk is not evenly split, since OKLO carries 2.3 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.
NXE vs OKLO: side by side
| NXE (Nexgen Energy Ltd.) | OKLO (Oklo Inc.) | |
|---|---|---|
| 1-year return | +54.6% | -41.9% |
| 5-year return | +144.9% | +332.7% |
| Volatility (ann.) | 50.8% | 117.9% |
| Beta vs S&P 500 | 1.48 | 2.21 |
| Max drawdown (3Y) | -54.3% | -78.8% |
| Market cap | $7.5B | $7.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXE | OKLO |
|---|---|---|
| 2022 | +1.4% | +0.7% |
| 2023 | +58.0% | +6.5% |
| 2024 | -5.7% | +101.0% |
| 2025 | +39.4% | +238.0% |
| 2026 | +21.6% | -40.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXE and OKLO good diversifiers for each other?
Only partially. A correlation of 0.51 means NXE and OKLO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NXE and OKLO?
As of 2026-08-27, the correlation of weekly returns between NXE and OKLO is 0.51 over 3 years, 0.49 over 1 year and 0.37 over 5 years.
Is OKLO a good diversifier for NXE?
Only partially. A correlation of 0.51 means NXE and OKLO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: NXE correlations · OKLO correlations
