NXTT vs SPY: Correlation
Measured on weekly returns over the past three years, Next Technology Holding Inc. (NXTT) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.02, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXTT and SPY?
Over the past 3 years, NXTT and SPY moved with a correlation of 0.02, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.04 over 1 year against 0.02 over 3. Over 5 years the correlation is 0.01, and the annualized covariance of weekly returns is 1700.3 %².
By 3-year correlation, SPY places #22 of the 31 assets tracked against NXTT. Correlation aside, the last 12 months split them widely, with SPY ahead by 114.9 points (-94.3% versus +20.6%). Note the risk asymmetry: NXTT runs 531.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SPY: side by side
| NXTT (Next Technology Holding Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -94.3% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 7704.0% | 14.5% |
| Beta vs S&P 500 | 8.14 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | NXTT | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -93.9% | +26.2% |
| 2024 | -36.6% | +24.9% |
| 2025 | -98.8% | +17.7% |
| 2026 | +14.6% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXTT and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between NXTT and SPY?
As of 2026-08-27, the correlation of weekly returns between NXTT and SPY is 0.02 over 3 years, 0.04 over 1 year and 0.01 over 5 years.
Is SPY a good diversifier for NXTT?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
What does a correlation of 0.02 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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Hubs: NXTT correlations · SPY correlations
