RNXT vs SSM: Correlation
How closely do RenovoRx, Inc. (RNXT) and Sono Group N.V. (SSM) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RNXT and SSM?
On 3 years of weekly data the RNXT/SSM correlation comes out at 0.56, moderate. The link has loosened recently: the 1-year correlation (0.25) runs below the 3-year figure (0.56). The 5-year figure is 0.49, and annualized covariance runs at 77809.0 %².
Few assets follow RNXT as closely as SSM, which ranks #1 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months RNXT outperformed by 110.5 percentage points (+60.0% for RNXT against -50.5% for SSM). One caveat on sizing: SSM is 10.4 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.
RNXT vs SSM: side by side
| RNXT (RenovoRx, Inc.) | SSM (Sono Group N.V.) | |
|---|---|---|
| 1-year return | +60.0% | -50.5% |
| 5-year return | -90.8% | -99.9% |
| Volatility (ann.) | 116.0% | 1204.8% |
| Beta vs S&P 500 | 1.24 | 0.56 |
| Max drawdown (3Y) | -68.0% | -99.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RNXT | SSM |
|---|---|---|
| 2022 | -51.4% | -89.8% |
| 2023 | -2.6% | -93.9% |
| 2024 | -43.7% | -16.7% |
| 2025 | -34.9% | +86.7% |
| 2026 | +76.2% | -61.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RNXT and SSM good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RNXT and SSM?
The RNXT/SSM correlation stands at 0.56 on a 3-year window (1 year: 0.25, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is SSM a good diversifier for RNXT?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 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
$ curl https://www.pairbook.io/api/v1/pairs/rnxt-vs-ssm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rnxt-vs-ssm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RNXT correlations · SSM correlations
