NXTS vs SPY: Correlation
How closely do Nexentis Technologies Inc. (NXTS) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.00, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXTS and SPY?
Across a 3-year window, the weekly returns of NXTS and SPY correlate at 0.00, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.30) runs above the 3-year figure (0.00). Stretching to 5 years gives 0.01, with an annualized covariance of 29.7 %².
SPY is close to the least connected end of NXTS's tracked universe, ranking #21 of 24. Correlation aside, the last 12 months split them widely, with SPY ahead by 116.9 points (-96.3% versus +20.6%). One caveat on sizing: NXTS is 39.0 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.
NXTS vs SPY: side by side
| NXTS (Nexentis Technologies Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -96.3% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 565.9% | 14.5% |
| Beta vs S&P 500 | 0.14 | 1.00 |
| Max drawdown (3Y) | -99.9% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 0.2 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | NXTS | SPY |
|---|---|---|
| 2022 | -81.2% | -18.2% |
| 2023 | -62.2% | +26.2% |
| 2024 | -87.6% | +24.9% |
| 2025 | -80.6% | +17.7% |
| 2026 | -83.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXTS and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
FAQ
What is the correlation between NXTS and SPY?
The NXTS/SPY correlation stands at 0.00 on a 3-year window (1 year: 0.30, 5 years: 0.01), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for NXTS?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
What does a correlation of 0.00 mean?
A reading of 0.00 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: NXTS correlations · SPY correlations
