NXTT vs NYAX: Correlation
Measured on weekly returns over the past three years, Next Technology Holding Inc. (NXTT) and Nayax Ltd. (NYAX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXTT and NYAX?
Over the past 3 years, NXTT and NYAX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.45 versus -0.28 over 3 years. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -106982.5 %².
Among the 31 assets we track against NXTT, NYAX sits near the bottom by co-movement, at rank #28. The last year tells two different stories: NYAX led by 103.7 percentage points, -94.3% for NXTT against +9.4% for NYAX. One caveat on sizing: NXTT is 157.9 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.
NXTT vs NYAX: side by side
| NXTT (Next Technology Holding Inc.) | NYAX (Nayax Ltd.) | |
|---|---|---|
| 1-year return | -94.3% | +9.4% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 7704.0% | 48.8% |
| Beta vs S&P 500 | 8.14 | 0.48 |
| Max drawdown (3Y) | -100.0% | -39.1% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | 261.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXTT | NYAX |
|---|---|---|
| 2023 | -93.9% | -3.3% |
| 2024 | -36.6% | +53.1% |
| 2025 | -98.8% | +73.5% |
| 2026 | +14.6% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXTT and NYAX good diversifiers for each other?
Yes. With a correlation of -0.28, NXTT and NYAX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NXTT and NYAX?
As of 2026-08-27, the correlation of weekly returns between NXTT and NYAX is -0.28 over 3 years, -0.45 over 1 year and -0.25 over 5 years.
Is NYAX a good diversifier for NXTT?
Yes. With a correlation of -0.28, NXTT and NYAX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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: NXTT correlations · NYAX correlations
