NextNav Inc. Common Stock (NN) — Stock Correlations & Overview
Over the past year, NN has moved most closely with XTL, PSCT, HAIL. Explore the stocks most correlated and inversely correlated with NN below, along with its price, financials, and company profile.
Stocks correlated with NN
Correlation of daily returns. Higher positive values move with NN; negative values move opposite it. Informational only, not investment advice.
Most correlated with NN
| Symbol | Company | Correlation |
|---|---|---|
| XTL | State Street SPDR S&P Telecom ETF | 0.39 |
| PSCT | Invesco S&P SmallCap Information Technology ETFINVESTMENT ADVICE | 0.38 |
| HAIL | State Street SPDR S&P Kensho Smart Mobility ETF | 0.37 |
| TSAT | Telesat Corporation Class A Common Shares and Class B Variable Voting Shares | 0.37 |
| FYC | First Trust Small Cap Growth AlphaDEX Fund | 0.37 |
Most inversely correlated with NN
| Symbol | Company | Correlation |
|---|---|---|
| TZA | Direxion Daily Small Cap Bear 3x ETF | -0.32 |
| TWM | ProShares UltraShort Russell2000 | -0.32 |
| RWM | ProShares Short Russell2000 | -0.32 |
| SRTY | ProShares UltraPro Short Russell2000 | -0.31 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.30 |
Frequently asked questions about NN correlations
- Which stocks are most correlated with NN?
- Based on one year of daily returns, the stocks most correlated with NextNav Inc. Common Stock (NN) are XTL (0.39), PSCT (0.38) and HAIL (0.37). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with NN?
- Over the past year, the stocks most inversely correlated with NextNav Inc. Common Stock (NN) are TZA (-0.32), TWM (-0.32) and RWM (-0.32). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these NN correlations calculated?
- We compute the correlation of daily returns between NN and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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