NXE vs URG: Correlation
Nexgen Energy Ltd. (NXE) and Ur Energy Inc (URG) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXE and URG?
On 3 years of weekly data the NXE/URG correlation comes out at 0.73, strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.73 over 3. The 5-year figure is 0.76, and annualized covariance runs at 2183.2 %².
Within NXE's tracked universe of 17 assets, URG comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NXE ahead by 42.1 points (+54.6% versus +12.5%).
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 URG: side by side
| NXE (Nexgen Energy Ltd.) | URG (Ur Energy Inc) | |
|---|---|---|
| 1-year return | +54.6% | +12.5% |
| 5-year return | +144.9% | +26.4% |
| Volatility (ann.) | 50.8% | 59.1% |
| Beta vs S&P 500 | 1.48 | 1.21 |
| Max drawdown (3Y) | -54.3% | -72.1% |
| Market cap | $7.5B | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXE | URG |
|---|---|---|
| 2022 | +1.4% | -5.7% |
| 2023 | +58.0% | +33.9% |
| 2024 | -5.7% | -25.3% |
| 2025 | +39.4% | +20.9% |
| 2026 | +21.6% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXE and URG good diversifiers for each other?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NXE and URG?
As of 2026-08-27, the correlation of weekly returns between NXE and URG is 0.73 over 3 years, 0.73 over 1 year and 0.76 over 5 years.
Is URG a good diversifier for NXE?
To a limited degree. At 0.73 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.73 mean?
A reading of 0.73 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/nxe-vs-urg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nxe-vs-urg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NXE correlations · URG correlations
