SSM vs XMAX: Correlation
Measured on weekly returns over the past three years, Sono Group N.V. (SSM) and XMAX, Inc. (XMAX) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SSM and XMAX?
Across a 3-year window, the weekly returns of SSM and XMAX correlate at 0.47, moderate. The past 12 months show a tighter link (0.88) than the 3-year average (0.47). Stretching to 5 years gives 0.44, with an annualized covariance of 91686.5 %².
By 3-year correlation, XMAX places #5 of the 20 assets tracked against SSM. Correlation aside, the last 12 months split them widely, with XMAX ahead by 414.6 points (-50.5% versus +364.1%). Risk is not evenly split, since SSM carries 7.5 times the volatility of the other side.
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.
SSM vs XMAX: side by side
| SSM (Sono Group N.V.) | XMAX (XMAX, Inc.) | |
|---|---|---|
| 1-year return | -50.5% | +364.1% |
| 5-year return | -99.9% | -21.0% |
| Volatility (ann.) | 1204.8% | 161.3% |
| Beta vs S&P 500 | 0.56 | 0.59 |
| Max drawdown (3Y) | -99.4% | -91.3% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 18.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SSM | XMAX |
|---|---|---|
| 2022 | -89.8% | -77.0% |
| 2023 | -93.9% | +75.3% |
| 2024 | -16.7% | -82.2% |
| 2025 | +86.7% | +795.5% |
| 2026 | -61.1% | +50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SSM and XMAX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SSM and XMAX?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.88 over the last year and 0.44 over 5 years.
Is XMAX a good diversifier for SSM?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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/ssm-vs-xmax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ssm-vs-xmax/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SSM correlations · XMAX correlations
