RNXT vs XMAX: Correlation
How closely do RenovoRx, Inc. (RNXT) and XMAX, Inc. (XMAX) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RNXT and XMAX?
Across a 3-year window, the weekly returns of RNXT and XMAX correlate at 0.35, moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.35 over 3. Stretching to 5 years gives 0.28, with an annualized covariance of 6513.3 %².
Within RNXT's tracked universe of 10 assets, XMAX comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XMAX outperformed by 304.1 percentage points (+60.0% for RNXT against +364.1% for XMAX).
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 XMAX: side by side
| RNXT (RenovoRx, Inc.) | XMAX (XMAX, Inc.) | |
|---|---|---|
| 1-year return | +60.0% | +364.1% |
| 5-year return | -90.8% | -21.0% |
| Volatility (ann.) | 116.0% | 161.3% |
| Beta vs S&P 500 | 1.24 | 0.59 |
| Max drawdown (3Y) | -68.0% | -91.3% |
| Market cap | $0.1B | $0.6B |
| P/E (trailing) | – | 18.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RNXT | XMAX |
|---|---|---|
| 2022 | -51.4% | -77.0% |
| 2023 | -2.6% | +75.3% |
| 2024 | -43.7% | -82.2% |
| 2025 | -34.9% | +795.5% |
| 2026 | +76.2% | +50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RNXT and XMAX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RNXT and XMAX?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.38 over the last year and 0.28 over 5 years.
Is XMAX a good diversifier for RNXT?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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-xmax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rnxt-vs-xmax/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RNXT correlations · XMAX correlations
