RENX vs RNXT: Correlation
RenX Enterprises Corp. (RENX) and RenovoRx, Inc. (RNXT) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RENX and RNXT?
Across a 3-year window, the weekly returns of RENX and RNXT correlate at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.12 over 1 year against -0.21 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -7694.1 %².
Among the 28 assets we track against RENX, RNXT ranks #18 by 3-year correlation. The last year tells two different stories: RNXT led by 151.0 percentage points, -91.0% for RENX against +60.0% for RNXT. One caveat on sizing: RENX is 2.8 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.
RENX vs RNXT: side by side
| RENX (RenX Enterprises Corp.) | RNXT (RenovoRx, Inc.) | |
|---|---|---|
| 1-year return | -91.0% | +60.0% |
| 5-year return | n/a | -90.8% |
| Volatility (ann.) | 322.0% | 116.0% |
| Beta vs S&P 500 | 1.58 | 1.24 |
| Max drawdown (3Y) | -99.9% | -68.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RENX | RNXT |
|---|---|---|
| 2022 | – | -51.4% |
| 2023 | – | -2.6% |
| 2024 | -90.5% | -43.7% |
| 2025 | -92.5% | -34.9% |
| 2026 | -46.1% | +76.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RENX and RNXT good diversifiers for each other?
Yes. With a correlation of -0.21, RENX and RNXT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RENX and RNXT?
As of 2026-08-27, the correlation of weekly returns between RENX and RNXT is -0.21 over 3 years, -0.12 over 1 year and n/a over 5 years.
Is RNXT a good diversifier for RENX?
Yes. With a correlation of -0.21, RENX and RNXT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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: RENX correlations · RNXT correlations
