NXL vs STOK: Correlation
How closely do Nexalin Technology, Inc. (NXL) and Stoke Therapeutics, Inc. (STOK) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXL and STOK?
Over the past 3 years, NXL and STOK moved with a correlation of 0.48, which is moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.48). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 8043.0 %².
Few assets follow NXL as closely as STOK, which ranks #3 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with STOK ahead by 137.2 points (-68.3% versus +68.9%). Note the risk asymmetry: NXL runs 1.9 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.
NXL vs STOK: side by side
| NXL (Nexalin Technology, Inc.) | STOK (Stoke Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -68.3% | +68.9% |
| 5-year return | n/a | +23.8% |
| Volatility (ann.) | 178.5% | 93.2% |
| Beta vs S&P 500 | 1.55 | 1.80 |
| Max drawdown (3Y) | -94.2% | -66.3% |
| Market cap | – | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXL | STOK |
|---|---|---|
| 2022 | – | -61.5% |
| 2023 | -45.9% | -43.0% |
| 2024 | +581.5% | +109.7% |
| 2025 | -79.8% | +187.8% |
| 2026 | -54.3% | +2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXL and STOK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NXL and STOK?
The NXL/STOK correlation stands at 0.48 on a 3-year window (1 year: 0.30, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is STOK a good diversifier for NXL?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: NXL correlations · STOK correlations
