NexGen Energy Ltd. (NXE) — Stock Correlations & Overview
Over the past year, NXE has moved most closely with URNM, URNJ, URAA. Explore the stocks most correlated and inversely correlated with NXE below, along with its price, financials, and company profile.
Stocks correlated with NXE
Correlation of daily returns. Higher positive values move with NXE; negative values move opposite it. Informational only, not investment advice.
Most correlated with NXE
| Symbol | Company | Correlation |
|---|---|---|
| URNM | Sprott Uranium Miners ETF | 0.92 |
| URNJ | Sprott Junior Uranium Miners ETF | 0.90 |
| URAA | Direxion Daily Uranium Industry Bull 2X ETF | 0.89 |
| DNN | Denison Mines Corp | 0.89 |
| URA | Global X Uranium ETF | 0.88 |
Most inversely correlated with NXE
| Symbol | Company | Correlation |
|---|---|---|
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.61 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.60 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.60 |
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.56 |
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | -0.55 |
Frequently asked questions about NXE correlations
- Which stocks are most correlated with NXE?
- Based on one year of daily returns, the stocks most correlated with NexGen Energy Ltd. (NXE) are URNM (0.92), URNJ (0.90) and URAA (0.89). 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 NXE?
- Over the past year, the stocks most inversely correlated with NexGen Energy Ltd. (NXE) are JDST (-0.61), GDXD (-0.60) and DUST (-0.60). 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 NXE correlations calculated?
- We compute the correlation of daily returns between NXE 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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