NXGL vs RSKD: Correlation
NexGel, Inc (NXGL) and Riskified Ltd. Class A (RSKD) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXGL and RSKD?
Over the past 3 years, NXGL and RSKD moved with a correlation of 0.37, which is moderate. The past 12 months show a tighter link (0.62) than the 3-year average (0.37). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 1133.1 %².
Few assets follow NXGL as closely as RSKD, which ranks #2 of 11 tracked partners. The last year tells two different stories: RSKD led by 116.6 percentage points, -85.0% for NXGL against +31.6% for RSKD. Note the risk asymmetry: NXGL runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NXGL vs RSKD: side by side
| NXGL (NexGel, Inc) | RSKD (Riskified Ltd. Class A) | |
|---|---|---|
| 1-year return | -85.0% | +31.6% |
| 5-year return | -90.1% | -81.3% |
| Volatility (ann.) | 79.8% | 38.0% |
| Beta vs S&P 500 | 1.14 | 1.09 |
| Max drawdown (3Y) | -93.3% | -42.2% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXGL | RSKD |
|---|---|---|
| 2022 | -52.1% | -41.2% |
| 2023 | +70.4% | +1.3% |
| 2024 | +109.4% | +1.1% |
| 2025 | -63.9% | +5.1% |
| 2026 | -78.3% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXGL and RSKD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NXGL and RSKD?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.62 over the last year and 0.24 over 5 years.
Is RSKD a good diversifier for NXGL?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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.
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Hubs: NXGL correlations · RSKD correlations
