NXGL vs TATT: Correlation
How closely do NexGel, Inc (NXGL) and TAT Technologies Ltd. (TATT) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXGL and TATT?
Over the past 3 years, NXGL and TATT moved with a correlation of 0.34, which is moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.34 over 3. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 1408.0 %².
Within NXGL's tracked universe of 11 assets, TATT comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TATT outperformed by 85.7 percentage points (-85.0% for NXGL against +0.7% for TATT). Risk is not evenly split, since NXGL carries 1.5 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.
NXGL vs TATT: side by side
| NXGL (NexGel, Inc) | TATT (TAT Technologies Ltd.) | |
|---|---|---|
| 1-year return | -85.0% | +0.7% |
| 5-year return | -90.1% | +532.6% |
| Volatility (ann.) | 79.8% | 52.0% |
| Beta vs S&P 500 | 1.14 | 0.89 |
| Max drawdown (3Y) | -93.3% | -47.5% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 24.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXGL | TATT |
|---|---|---|
| 2022 | -52.1% | -16.0% |
| 2023 | +70.4% | +91.5% |
| 2024 | +109.4% | +153.0% |
| 2025 | -63.9% | +73.9% |
| 2026 | -78.3% | -16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXGL and TATT good diversifiers for each other?
Reasonably. At 0.34, NXGL and TATT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NXGL and TATT?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.40 over the last year and 0.29 over 5 years.
Is TATT a good diversifier for NXGL?
Reasonably. At 0.34, NXGL and TATT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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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Related comparisons
Hubs: NXGL correlations · TATT correlations
