NXL vs REX: Correlation
Nexalin Technology, Inc. (NXL) and REX American Resources Corporation (REX) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXL and REX?
On 3 years of weekly data the NXL/REX correlation comes out at 0.31, moderate. The past 12 months show a weaker link (-0.10) than the 3-year average (0.31). The 5-year figure is 0.27, and annualized covariance runs at 2246.7 %².
By 3-year correlation, REX places #5 of the 10 assets tracked against NXL. Correlation aside, the last 12 months split them widely, with REX ahead by 103.0 points (-68.3% versus +34.7%). One caveat on sizing: NXL is 4.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NXL vs REX: side by side
| NXL (Nexalin Technology, Inc.) | REX (REX American Resources Corporation) | |
|---|---|---|
| 1-year return | -68.3% | +34.7% |
| 5-year return | n/a | +190.5% |
| Volatility (ann.) | 178.5% | 40.2% |
| Beta vs S&P 500 | 1.55 | 0.44 |
| Max drawdown (3Y) | -94.2% | -41.6% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | 15.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXL | REX |
|---|---|---|
| 2022 | – | -0.4% |
| 2023 | -45.9% | +48.5% |
| 2024 | +581.5% | -11.9% |
| 2025 | -79.8% | +55.0% |
| 2026 | -54.3% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXL and REX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NXL and REX?
As of 2026-08-27, the correlation of weekly returns between NXL and REX is 0.31 over 3 years, -0.10 over 1 year and 0.27 over 5 years.
Is REX a good diversifier for NXL?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
A reading of 0.31 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/nxl-vs-rex.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nxl-vs-rex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NXL correlations · REX correlations
