NXL vs TNXP: Correlation
Nexalin Technology, Inc. (NXL) and Tonix Pharmaceuticals Holding Corp. (TNXP) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXL and TNXP?
Across a 3-year window, the weekly returns of NXL and TNXP correlate at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.14 lands near the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -6052.7 %².
Out of 10 assets tracked against NXL, TNXP lands near the bottom at #10. On 12-month performance TNXP holds a 10.4-point edge, -68.3% against -57.9%.
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.
NXL vs TNXP: side by side
| NXL (Nexalin Technology, Inc.) | TNXP (Tonix Pharmaceuticals Holding Corp.) | |
|---|---|---|
| 1-year return | -68.3% | -57.9% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 178.5% | 164.8% |
| Beta vs S&P 500 | 1.55 | 1.57 |
| Max drawdown (3Y) | -94.2% | -99.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXL | TNXP |
|---|---|---|
| 2022 | – | -96.6% |
| 2023 | -45.9% | -83.6% |
| 2024 | +581.5% | -97.4% |
| 2025 | -79.8% | -52.7% |
| 2026 | -54.3% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXL and TNXP good diversifiers for each other?
Yes. With a correlation of -0.21, NXL and TNXP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NXL and TNXP?
As of 2026-08-27, the correlation of weekly returns between NXL and TNXP is -0.21 over 3 years, -0.14 over 1 year and -0.13 over 5 years.
Is TNXP a good diversifier for NXL?
Yes. With a correlation of -0.21, NXL and TNXP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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-tnxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nxl-vs-tnxp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NXL correlations · TNXP correlations
