NXTC vs PGR: Correlation
Measured on weekly returns over the past three years, NextCure, Inc. (NXTC) and Progressive Corporation (PGR) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXTC and PGR?
Over the past 3 years, NXTC and PGR moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.54) runs below the 3-year figure (-0.32). Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -1207.5 %².
Among the 18 assets we track against NXTC, PGR sits near the bottom by co-movement, at rank #17. Their recent paths diverged sharply: over the last 12 months NXTC outperformed by 20.6 percentage points (+15.3% for NXTC against -5.3% for PGR). Note the risk asymmetry: NXTC runs 6.8 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.
NXTC vs PGR: side by side
| NXTC (NextCure, Inc.) | PGR (Progressive Corporation) | |
|---|---|---|
| 1-year return | +15.3% | -5.3% |
| 5-year return | -93.2% | +153.0% |
| Volatility (ann.) | 160.1% | 23.6% |
| Beta vs S&P 500 | 1.18 | 0.32 |
| Max drawdown (3Y) | -94.6% | -30.4% |
| Market cap | – | $126.5B |
| P/E (trailing) | – | 10.9 |
| Dividend yield | 0.00% | 0.18% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | NXTC | PGR |
|---|---|---|
| 2022 | -76.5% | +26.8% |
| 2023 | -19.1% | +23.2% |
| 2024 | -32.4% | +51.4% |
| 2025 | +53.4% | -3.0% |
| 2026 | -57.5% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXTC and PGR good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between NXTC and PGR?
As of 2026-08-27, the correlation of weekly returns between NXTC and PGR is -0.32 over 3 years, -0.54 over 1 year and -0.21 over 5 years.
Is PGR a good diversifier for NXTC?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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
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Related comparisons
Hubs: NXTC correlations · PGR correlations
