NXE vs UROY: Correlation
Measured on weekly returns over the past three years, Nexgen Energy Ltd. (NXE) and Uranium Royalty Corp. (UROY) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXE and UROY?
Across a 3-year window, the weekly returns of NXE and UROY correlate at 0.74, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Stretching to 5 years gives 0.74, with an annualized covariance of 2262.2 %².
Within NXE's tracked universe of 17 assets, UROY comes in at #5 by 3-year correlation. On 12-month performance NXE holds a 11.7-point edge, +54.6% against +42.9%.
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 UROY: side by side
| NXE (Nexgen Energy Ltd.) | UROY (Uranium Royalty Corp.) | |
|---|---|---|
| 1-year return | +54.6% | +42.9% |
| 5-year return | +144.9% | +56.3% |
| Volatility (ann.) | 50.8% | 59.9% |
| Beta vs S&P 500 | 1.48 | 1.40 |
| Max drawdown (3Y) | -54.3% | -59.7% |
| Market cap | $7.5B | $1.7B |
| P/E (trailing) | – | 14.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXE | UROY |
|---|---|---|
| 2022 | +1.4% | -35.1% |
| 2023 | +58.0% | +13.9% |
| 2024 | -5.7% | -18.9% |
| 2025 | +39.4% | +61.6% |
| 2026 | +21.6% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXE and UROY good diversifiers for each other?
Only partially. A correlation of 0.74 means NXE and UROY 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 UROY?
The NXE/UROY correlation stands at 0.74 on a 3-year window (1 year: 0.77, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is UROY a good diversifier for NXE?
Only partially. A correlation of 0.74 means NXE and UROY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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
$ curl https://www.pairbook.io/api/v1/pairs/nxe-vs-uroy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nxe-vs-uroy/)
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Related comparisons
Hubs: NXE correlations · UROY correlations
