NXP vs PROP: Correlation
Measured on weekly returns over the past three years, Nuveen Select Tax Free Income Portfolio (NXP) and Prairie Operating Co. (PROP) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXP and PROP?
Across a 3-year window, the weekly returns of NXP and PROP correlate at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.16) sits close to the 3-year figure. Stretching to 5 years gives -0.03, with an annualized covariance of -213.0 %².
Among the 11 assets we track against NXP, PROP sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with NXP ahead by 84.8 points (+6.3% versus -78.5%). One caveat on sizing: PROP is 11.2 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.
NXP vs PROP: side by side
| NXP (Nuveen Select Tax Free Income Portfolio) | PROP (Prairie Operating Co.) | |
|---|---|---|
| 1-year return | +6.3% | -78.5% |
| 5-year return | +0.3% | -99.1% |
| Volatility (ann.) | 9.1% | 101.6% |
| Beta vs S&P 500 | 0.11 | 1.03 |
| Max drawdown (3Y) | -9.1% | -97.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | 24.9 | – |
| Dividend yield | 4.45% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXP | PROP |
|---|---|---|
| 2022 | -9.5% | -98.2% |
| 2023 | +10.7% | +498.8% |
| 2024 | +6.9% | -27.2% |
| 2025 | -2.7% | -75.6% |
| 2026 | +3.8% | -68.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXP and PROP good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NXP and PROP?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.16 over the last year and -0.03 over 5 years.
Is PROP a good diversifier for NXP?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nxp-vs-prop.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nxp-vs-prop/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NXP correlations · PROP correlations
