AEHL vs ONFO: Correlation
How closely do Antelope Enterprise Holdings Limited - Class A (AEHL) and Onfolio Holdings Inc. (ONFO) trade together? Their weekly returns over three years give a correlation of 0.98, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEHL and ONFO?
Across a 3-year window, the weekly returns of AEHL and ONFO correlate at 0.98, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.98 lands near the 3-year figure. Stretching to 5 years gives 0.98, with an annualized covariance of 4841407.7 %².
Few assets follow AEHL as closely as ONFO, which ranks #3 of 26 tracked partners. The last year tells two different stories: ONFO led by 110.1 percentage points, -73.6% for AEHL against +36.5% for ONFO. One caveat on sizing: ONFO is 3.5 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.
AEHL vs ONFO: side by side
| AEHL (Antelope Enterprise Holdings Limited - Class A) | ONFO (Onfolio Holdings Inc.) | |
|---|---|---|
| 1-year return | -73.6% | +36.5% |
| 5-year return | -99.9% | n/a |
| Volatility (ann.) | 1193.4% | 4150.5% |
| Beta vs S&P 500 | 1.91 | 6.65 |
| Max drawdown (3Y) | -100.0% | -99.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEHL | ONFO |
|---|---|---|
| 2022 | -62.9% | – |
| 2023 | -56.1% | -66.4% |
| 2024 | -91.1% | +162.7% |
| 2025 | -80.8% | -49.3% |
| 2026 | -52.1% | +109.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEHL and ONFO good diversifiers for each other?
No: a correlation of 0.98 means AEHL and ONFO tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AEHL and ONFO?
As of 2026-08-27, the correlation of weekly returns between AEHL and ONFO is 0.98 over 3 years, 0.98 over 1 year and 0.98 over 5 years.
Is ONFO a good diversifier for AEHL?
No: a correlation of 0.98 means AEHL and ONFO tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.98 mean?
On the −1 to +1 scale, 0.98 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: AEHL correlations · ONFO correlations
