NXPL vs SFM: Correlation
How closely do NextPlat Corp (NXPL) and Sprouts Farmers Market, Inc. (SFM) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXPL and SFM?
On 3 years of weekly data the NXPL/SFM correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.26 over 3. The 5-year figure is -0.14, and annualized covariance runs at -728.9 %².
Out of 15 assets tracked against NXPL, SFM lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with NXPL ahead by 63.5 points (+19.5% versus -44.0%). Risk is not evenly split, since NXPL carries 1.8 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.
NXPL vs SFM: side by side
| NXPL (NextPlat Corp) | SFM (Sprouts Farmers Market, Inc.) | |
|---|---|---|
| 1-year return | +19.5% | -44.0% |
| 5-year return | -85.7% | +228.8% |
| Volatility (ann.) | 71.9% | 39.2% |
| Beta vs S&P 500 | 1.10 | 0.38 |
| Max drawdown (3Y) | -84.4% | -63.5% |
| Market cap | – | $7.6B |
| P/E (trailing) | – | 15.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXPL | SFM |
|---|---|---|
| 2022 | -61.1% | +9.1% |
| 2023 | +31.0% | +48.6% |
| 2024 | -34.5% | +164.1% |
| 2025 | -50.9% | -37.3% |
| 2026 | +75.8% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXPL and SFM good diversifiers for each other?
Yes. With a correlation of -0.26, NXPL and SFM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NXPL and SFM?
The NXPL/SFM correlation stands at -0.26 on a 3-year window (1 year: -0.25, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is SFM a good diversifier for NXPL?
Yes. With a correlation of -0.26, NXPL and SFM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nxpl-vs-sfm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nxpl-vs-sfm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NXPL correlations · SFM correlations
