NXTS vs SRL: Correlation
How closely do Nexentis Technologies Inc. (NXTS) and Scully Royalty Ltd. (SRL) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXTS and SRL?
Over the past 3 years, NXTS and SRL moved with a correlation of 0.32, which is moderate. The link has loosened recently: the 1-year correlation (-0.09) runs below the 3-year figure (0.32). Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 9136.2 %².
By 3-year correlation, SRL places #18 of the 24 assets tracked against NXTS. The last year tells two different stories: SRL led by 106.5 percentage points, -96.3% for NXTS against +10.2% for SRL. Risk is not evenly split, since NXTS carries 11.3 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.
NXTS vs SRL: side by side
| NXTS (Nexentis Technologies Inc.) | SRL (Scully Royalty Ltd.) | |
|---|---|---|
| 1-year return | -96.3% | +10.2% |
| 5-year return | -100.0% | -40.6% |
| Volatility (ann.) | 565.9% | 50.0% |
| Beta vs S&P 500 | 0.14 | 0.34 |
| Max drawdown (3Y) | -99.9% | -51.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | 0.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXTS | SRL |
|---|---|---|
| 2022 | -81.2% | -4.5% |
| 2023 | -62.2% | -19.1% |
| 2024 | -87.6% | +51.6% |
| 2025 | -80.6% | -4.5% |
| 2026 | -83.8% | -31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXTS and SRL good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NXTS and SRL?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with -0.09 over the last year and 0.26 over 5 years.
Is SRL a good diversifier for NXTS?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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.
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Related comparisons
Hubs: NXTS correlations · SRL correlations
