NXTT vs SCKT: Correlation
Measured on weekly returns over the past three years, Next Technology Holding Inc. (NXTT) and Socket Mobile, Inc. (SCKT) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXTT and SCKT?
Across a 3-year window, the weekly returns of NXTT and SCKT correlate at 0.69, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 680910.8 %².
Among the 31 assets we track against NXTT, SCKT ranks #17 by 3-year correlation. The last year tells two different stories: SCKT led by 64.5 percentage points, -94.3% for NXTT against -29.8% for SCKT. One caveat on sizing: NXTT is 59.8 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 SCKT: side by side
| NXTT (Next Technology Holding Inc.) | SCKT (Socket Mobile, Inc.) | |
|---|---|---|
| 1-year return | -94.3% | -29.8% |
| 5-year return | -100.0% | -89.6% |
| Volatility (ann.) | 7704.0% | 128.9% |
| Beta vs S&P 500 | 8.14 | 0.82 |
| Max drawdown (3Y) | -100.0% | -75.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXTT | SCKT |
|---|---|---|
| 2022 | – | -52.7% |
| 2023 | -93.9% | -39.9% |
| 2024 | -36.6% | +14.7% |
| 2025 | -98.8% | -23.3% |
| 2026 | +14.6% | -29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXTT and SCKT good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NXTT and SCKT?
As of 2026-08-27, the correlation of weekly returns between NXTT and SCKT is 0.69 over 3 years, 0.72 over 1 year and 0.67 over 5 years.
Is SCKT a good diversifier for NXTT?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 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: NXTT correlations · SCKT correlations
