NXTC vs SLND: Correlation
How closely do NextCure, Inc. (NXTC) and Southland Holdings, Inc. (SLND) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXTC and SLND?
Over the past 3 years, NXTC and SLND moved with a correlation of 0.40, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.40 over 3. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 5134.9 %².
Within NXTC's tracked universe of 18 assets, SLND comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NXTC ahead by 99.3 points (+15.3% versus -84.0%). Risk is not evenly split, since NXTC carries 2.0 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.
NXTC vs SLND: side by side
| NXTC (NextCure, Inc.) | SLND (Southland Holdings, Inc.) | |
|---|---|---|
| 1-year return | +15.3% | -84.0% |
| 5-year return | -93.2% | -93.4% |
| Volatility (ann.) | 160.1% | 80.0% |
| Beta vs S&P 500 | 1.18 | 0.62 |
| Max drawdown (3Y) | -94.6% | -92.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXTC | SLND |
|---|---|---|
| 2022 | -76.5% | +2.9% |
| 2023 | -19.1% | -49.5% |
| 2024 | -32.4% | -37.0% |
| 2025 | +53.4% | +2.2% |
| 2026 | -57.5% | -80.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXTC and SLND good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NXTC and SLND?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.50 over the last year and 0.36 over 5 years.
Is SLND a good diversifier for NXTC?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NXTC correlations · SLND correlations
